STOCKS NEWS EUROPE-Mediaset rises on Italy political truce
Shares in Mediaset (Other OTC: MDIUY - news) rise 2.8 percent to the top of Italy's FTSE MIB (Milan: FTSEMIB.MI - news) index after the two main parties in the country's fragile ruling coalition agree to delay a decision over the political future of the broadcaster's owner, former Prime Minister Silvio Berlusconi.
A cross-party Senate committee decided late on Tuesday to wait before voting on banishing Berlusconi from the Senate after his conviction for tax fraud last month. The centre-right leader has threatened to bring down the government if lawmakers vote to strip him of his seat, so the delay temporarily averts a showdown.
"It's clear that the stock is feeling the effect of this window that opened to avoid a crisis," said a trader.
Reuters messaging rm://giancarlo.navach.reuters.com@reuters.net, isla.binnie.thomsonreuters.com@reuters.net