Mon. Nov 11th, 2019

Italy’s Giuseppe Conte set to step down soon

1 min read

Populist Italian Prime Minister Giuseppe Conte is expected to step down imminently on Tuesday. According to numerous reports, Conte will address the Italian parliament later in the day and then formally submit his resignation to Italian President Sergio Mattarella. Conte’s plan to resign comes amid a political dustup with Matteo Salvini, the interior minister and head of the far-left League party, which has been focused on tamping down immigration in Rome. Conte, has been attempting to steer a tenuous coalition between Salvini’s League and the antiestablishment 5 Star movement for the past year. Country-specific exchange-traded iShares MSCI Italy ETF

EWI, -0.46%,

a popular way to gain exposure to Italy’s stock market, was trading down 0.7% but has gained 6.9% so far this year.

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