Martedì, 18 Settembre 2018

Markets regain some footing on optimistic news from the ecb


(ANSA) - Rome, July 25 - Italy's financial markets regained
some footing and spreads with Germany's benchmark eased slightly
by mid-day Wednesday.
Investors were heartened by suggestions that the European
Central Bank may decide to give some extra strength to the
region's bailout fund, as policy makers struggle to contain the
debt crisis.
By early afternoon, the spread between Italy's 10-year
bonds and the German Bund tightened to 510 basis points and the
yield relaxed to 6.44% after ECB council member Ewald Nowotny
told Bloomberg that there are arguments in favour of giving the
European Stability Mechanism a banking license.
That would give it access to ECB lending, easing concerns
that the fund might not be big enough on its own to cope with
Europe's debt crisis.
The small recovery cheered investors who had watched with
concern Tuesday as the Italian-Germany spread jumped to 537
points - a level not seen since last November, when Italy's
ex-premier Silvio Berlusconi was driven from office.
Meanwhile, the Milan stock exchange's benchmark FTSE Mib
index was very volatile Wednesday morning but still managed to
gain 1.5% in early trading to reach 12,551.22, after suffering
some of the heaviest losses in the region on Tuesday.
The index hit an euro-era low on Tuesday amid concerns
Spain may need a bailout and closed the day 2.71% lower.

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