Lunedì, 22 Ottobre 2018

Spread down 27 points, markets steady in modest trading


(ANSA) - Rome, August 1 - The spread between 10-year Italian
bonds and the German benchmark dropped 27 points on the day and
the Milan bourse was steady on Wednesday as European markets
made modest gains and investors awaited signs from policymakers
to back up the eurozone.
The spread, a barometer of Italy's borrowing costs and of
market confidence in its ability to weather the eurozone crisis,
closed at 453 points a day after soaring to close at 480.
The renewed pressure on Italy's bonds came with investors'
starting to have doubts about European Central Bank President
Mario Draghi's ability to deliver after saying last week that
his body would do "whatever it takes" to save the struggling
single currency.
Italian Premier Mario Monti on Wednesday said Italy may
need to ask for European rescue funds to be used to support its
bonds if the money markets are slow to see the country's efforts
to put its economic house in order.
He stressed the use of the so-called spread shield would
not mean that Italy would need a full-blown bailout.
The Milan stock market was stable after the news Wednesday,
earning 0.27% to close at 13,928 points.
Modest gains were typical across Europe, where the Stoxx
600 index earned 0.32% on the day.
Only Madrid and Frankfurt struggled to keep up, falling
0.51% and 0.18% respectively.

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