While the number of new coronavirus infections is falling dramatically in some countries in Europe, others fear a "third wave."
The former European Central Bank chief has ambitious plans to reform the country and that is making investors bullish on Italian stocks.
European stocks closed lower Thursday as investors grew wary of rising U.S. bond yields.
The pan-European Stoxx 600 ended the session down by 0.4%, with tech shares shedding 1.8% to lead losses.
The biggest challenge for Italy's new Prime Minister may not be Covid-19, but trying to maintain legitimacy as an unelected government in a deeply divided Italy, says Simon Baptist from the EIU.
Italian Prime Minister Mario Draghi is already transforming the political scene in Rome and boosting financial markets.
The former European Central Bank chief is tasked with plotting Italy's recovery from the pandemic.
Lorenzo Castellani, historian at LUISS Guido Carli, said Mario Draghi is stabilizing a very fragmented Italian parliament, but his government might not last for more than a year.
Members of the leftist Five-Star Movement opted to back Draghi in an online poll conducted Thursday.
If all goes to plan, the Italian city will soon add another striking development to its skyline.
Axel Merk of Merk Investments believes that Italy stands to benefit with ex-European Central Bank chief Mario Draghi in government, but he expects greater challenges for Draghi compared to when he ran a central bank.
Italy's latest political crisis was triggered when Renzi's party withdrew political support for the coalition government led by Giuseppe Conte.
Famed for rescuing the euro in the grips of a sovereign debt crisis, Mario Draghi is now being asked to help his own country.
Mario Draghi, former ECB president, is likely to become the next prime minister of Italy, according to reports. Wilfred Frost joins 'Closing Bell' to report.
European stocks closed higher on Tuesday amid investor optimism for a post-pandemic recovery.
Europe's economic recovery to take longer due to slow vaccine rollout, and potentially boosting the popularity of populist leaders.
European stocks closed higher on Monday, echoing positive market sentiment elsewhere.
Italy plunges into fresh political turmoil, but Professor Mattia Diletti from Sapienza University of Rome is optimistic that the Italian political institution can survive this crisis.
Italy is facing more political turmoil after Prime Minister Giuseppe Conte resigned on Tuesday, just as the country faces a severe health and economic crisis.
European stocks closed higher on Tuesday, ending two consecutive sessions of declines.