Domenica, 21 Ottobre 2018

Milan bourse recovers lost ground, pressure eases on bonds


(ANSA) - Milan, August 3 - The Milan stock exchange
recovered Thursday's lost ground on Friday, when its FTSE Mib
index gained 4.75%.
Bank stocks performed well and Intesa and UniCredit had
gained 8% and 7% respectively by 13.00 local time.
The FTSE Mib closed 4.64% down on Thursday after European
Central Bank President Mario Draghi poured cold water on
investor expectations that the bank was about to intervene on
the money markets to support the bonds of countries at the
centre of the eurozone crisis.
The pressure on Italy's bonds eased on Friday too, with the
spread between 10-year Italian BTPs and the German benchmark
dropping to 479 with a yield of 6.126%.
The rection to Draghi's comments sent the spread soaring
over 60 points to close near to 506 points on Thursday.
The yield spread is an important barometer of Italy's
borrowing costs and of market confidence in the country's
ability to weather the eurozone crisis.

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