A left-wing coalition led by Pier Luigi Bersani looked set
to win the lower house of the Italian parliament with a tiny majority, but an
impasse appeared likely for the upper house. Meanwhile, coalition led by
departing Prime Minister Mario Monti was reportedly expected to take about 10%
of the upper- and lower-house votes. U.S. stocks fell sharply on Monday, with
the Dow Jones Industrial Average having its worst session this year. The euro
continued to suffer Monday, with a sell-off in the shared currency triggered
after questions about Italy's austerity reforms emerged in the wake of the
country's general election. The euro EURJPY +0.3619% late
Monday in New York sank 4% against the Japanese yen, Against the dollar EURUSD +0.0566%
, the euro fell 1.1% to $1.3076,Brent also fell to $113.31,whereas Gold rise by
0.79% from Friday closing @$1592.20. With dollax is quoting higher at 81.80,
Indian Rupee can lose some gains it made in previous session, however support
may come around 54.27.In morning session today partially converted rupee open
at 54.07 against Dollar.
Complied by Amit Daga with Inputs from Marketwatch.
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