European markets offer muted reaction to new Italian premier

European markets were slightly positive in early trading as new Prime Minister Mario Monti prepares to form a new government to lead the stricken country out of its debt crisis.

President Giorgio Napolitano asked Monti to assume the role last night, less than 24 hours after Prime Minister Silvio Berlusconi (pictured) stepped down. Monti, an ex-EU commissioner, will lead an emergency technocrat government tasked with lifting Italy out of the mire of the sovereign debt crisis, and restarting growth. The French Cac was 0.22% higher at 3,156 and the German Dax rose 0.14% to 6,065, while the FTSE 100 was 0.14% up at 5,553. Early gains in Asia had been more significant, suggesting the stage was set for strong performance for European shares today. The euro stren...