Sabato, 22 Settembre 2018
ROME

>>>ANSA/European markets soar on ECB pledge to preserve euro

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© ANSA

(ANSA) - Rome, July 26 - European stock markets soared after
European Central Bank President Mario Draghi promised "to do
whatever it takes to save the euro" Thursday, and called
European countries' commitment to the euro "irreversible".
After Draghi's announcement to reporters in London, Milan's
FTSE Mib index roared to life, rising 5.62% to 13,210 points,
well over the psychological threshold of 13,000 points.
Italian financial institutions, battered in recent days
with Italy's bonds under pressure, flew skyward. Unicredit
closed up 9.21%, MPS +9.04%, Intesa Sanpaolo +8.81%, and the
insurance giant Generali rose 9.3%.
The alarmingly high spread between Italian and German bonds
shrank 46 basis points, from 519 to 473, with Italian 10-year
bonds yielding 6.05%.
The spread is a barometer of Italy's borrowing costs and an
indicator of investor confidence in the country's ability to
weather the eurozone crisis.
Italy's bonds have been under pressure amid speculation
that Spain may need a bailout and on Tuesday the spread hit 537
points - a level not seen since November, when Italy's
ex-premier Silvio Berlusconi was forced from office.
The spread between Spanish and German bonds sank to 561
basis points from levels that surpassed 600 in recent days. The
yield on 10-year Spanish bonds dipped to 6.92%.
The Madrid borse's Ibex 35 index rocketed +6% at close
Thursday, reaching 6368.80 points.
The Paris CAC 40 index gained 4.07%. Frankfurt's DAX index
rose 2.75%. London's FTSE-100 index rose 1.36%.

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