The morning papers are gushing over last night’s Oscars, ranging from Jennifer Lawrence’s stumble and Daniel Day-Lewis’ eloquence. On a more serious note, Italian elections are held today and the projected winner, the centre-left candidate Bersani will be good for the markets, analysts speculate while a Berlusconi win would witness a negative response. Polling booths are open from 7am until 3pm Italian time on Monday. Moody’s downgrading of UK’s triple-A status has overshadowed optimistic reports over the ailing European economies.