Italian Prime Minister Matteo Renzi answers to journalists' questions during a press conference he held to illustrate the work done by his government in its first one thousand days, in Rome, Friday, Nov. 18, 2016. (Maurizio Brambatti/ANSA via AP)
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European shares fell Monday, weighed down by losses among pharmaceuticals and financials and by worries that next month's Italian referendum on constitutional reform could create political instability.Italy's blue chip index fell 1 percent after hitting its lowest point since end-September as investors priced in a possible rejection of Prime Minister Matteo Renzi's reform plan.Among the biggest weights on the STOXX were Swiss-listed heavyweight drug makers Novartis and Roche, which fell 1.4 and 0.6 percent respectively; and big banks Lloyds and UBS, both down more than 1 percent.BCP Millennium rose more than 3 percent after agreeing on a stake sale to Chinese conglomerate Fosun in a deal that would help the Portuguese lender to beef up its balance sheet.
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