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Stocks Open Mixed Following Disarray in Italy

A man walks by the New York Stock Exchange
(Photo by Spencer Platt/Getty Images)

NEW YORK (AP) – Stocks are opening mixed on Wall Street after the surprise resignation of Italy’s prime minister sent a jolt through European markets.

McDonald’s rose after reporting stronger sales.

The Dow Jones industrial average inched up seven points to 13,162 shortly after the opening bell Monday.

The broader Standard & Poor’s 500 index was down a fraction of a point at 1,417. The Nasdaq composite was up a fraction at 2,978.

The departure of Italy’s Prime Minister Mario Monti surprised markets. Monti was credited with restoring confidence in Italy’s rattled economy. Italy’s benchmark stock index dropped 3 percent and the yields on Italy’s government bonds rose as investors sold them.

Monti said he can’t lead the country after former Prime Minister Silvio Berlusconi’s party dropped its support.

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Copyright 2012 by The Associated Press. All rights reserved. Material may not be redistributed.

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