Europe Lower on Italian Data and Looming Spanish Bailout

Markets in Europe are trading lower on Friday after Italian industrial production for April reported a larger than expected drop of -1.9 percent vs. -0.05 expected. Vanguard MSCI Europe ETF (NYSE: VGK), which tracks equities throughout Europe, is expected to open lower as major indexes across the pond are negative.

Yields on Italian and Spanish bonds rose on Friday, signaling negative sentiment in the region. On Saturday, a conference call between members of the eurozone will be held regarding an expected bailout of Spanish banks, but details so far are scarce.

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