• Goldman Sachs is turning sour on Italy as the populists take control

    One year ago - By Chron

    Goldman Sachs removes Italy's state-owned energy company, Enel, from list of favourite stocks.
    The move comes ahead of the agreement of a new government led by the populist Five Star Movement and the Lega Nord.
    Both parties are committed to using more renewable sources of energy, which poses a threat to Enel's profitability.
    It could also be a sign of Goldman souring on Italy more generally.
    Goldman Sachs has removed one of Italy's most prominent companies from a list of recommended stocks, as a direct consequence of the incoming populist government.
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