The rise in share prices is a sign that markets think Italy may now be beginning serious efforts to improve the government's finances.
Another more direct indication from the markets of that is a decline in the interest rate on the debt. For 10-year Italian government bonds, it's still uncomfortably high, but well below the 7% threshold that caused alarm across Europe earlier this week. Implementing these measures will be a challenge, but the senate's move is seen in the markets as a small welcome step.
The United Nations Security Council has taken a decision that in effect ends the current Palestinian bid for UN membership. A Security Council committee approved a report summing up the deep divisions within the council without recommending any action on the Palestinian request. More from Barbara Plett at the UN.
Approving the report was a formality. The next step
is up to
the Palestinians. They could still push for a symbolic vote; they could decide to try again for full UN membership in a few weeks or months; or they could seek status as a non-member observer state, which would upgrade their current position as observer entity. The Palestinians never expected to win at the Security Council. The US had said it would veto the request. They had, however, hoped to
muster
the nine votes needed to pass a resolution and so expose America as the main obstacle to their bid for UN membership.
World News from the BBC