Premarket: European stocks outperform as Italy soothes bank tax nerves

News Snapshot:

Global stocks rose on Wednesday and European equities outperformed as Italy soothed market nerves with the news that a windfall tax on bank profits would be less punishing than analysts had expected. MSCI’s broad index of global shares was 0.2 per cent higher in early European trade. Europe’s regional Stoxx 600 share index rose 0.9 per cent, with bank stocks about 1.6 per cent higher. Italy’s FTSE MIB share index gained 1.6 per cent. Britain’s FTSE was up 0.7 per cent, Germany’s DAX rose 1.2 per cent and France’s CAC 40 advanced 1.4 per cent The Italian government shocked markets...