Lunedì, 24 Settembre 2018
ROME

Financial markets slide on fears over Spain, global outlook

English
© ANSA

(ANSA) - Rome, August 28 - European financial markets slid
on Tuesday amid concerns over the outlook for Spain and for the
global economy.
Spanish Premier Mariano Rajoy and European Council
President Herman Van Rompuy were emphatic Tuesday that their
meeting in Madrid did not concern an EU bailout for the troubled
country.
But weak data coming from Spain is raising concerns about
its economic and financial future.
Investors are also carefully watching the annual meeting of
central bank governors that begins later this week in Jackson
Hole, Wyoming, hoping to get some news on what the U.S. Federal
Reserve has in mind to support economic growth.
However, indications on what actions the European Central
Bank has in mind will have to wait, as ECB chief Mario Draghi
cancelled his trip to Jackson Hole due to a heavy workload in
Europe.
In Milan, the FTSE MIB index slipped by 0.13% to close
trading at 14,993 on news Tuesday that ratings agency Fitch
predicts the Italian economy will shrink by 1.9% this year, and
show no growth in 2013.
The FTSE Italia All-Share index closed down by 0.17% at
15,875.
Investor concern nudged up the spread between Italian
10-year bonds and the benchmark German Bund.
The spread closed at 450 basis points with a yield of
5.83%, up slightly from Monday when the spread closed at 436
basis points and with a yield of 5.71%.
Other markets were weak in Tuesday's trading.
Frankfurt closed down by 0.64% to 7,002.68 points; in Paris
the CAC 40 index was down 0.90% to 3,431.55 points; Madrid's
Ibex 35 lost 0.88% to reach 7,333.50; and London's FTSE-100
index was essentially unchanged, moving down only 0.02% to
5,775.71 points.

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