Domenica, 21 Ottobre 2018
MILAN

European markets close down, bond spreads stable

English
© ANSA

(ANSA) - Milan, September 18 - Milan's FTSE MIB lost 2.39%
to close at 16,076 points on Tuesday, with banks hit hard and
media stocks soaring.
Italy's biggest banks, Intesa SanPaolo (-5.8%) and
Unicredit (-4.5%) tanked more than others on Tuesday.
Fiat (-4.27%) was also among Milan's worst-performing
stocks.
The company that controls television station La7 soared
21.57% after news broke of interest expressed by Rubert
Murdoch's News Corp.
RCS, which controls the national newspaper Il Corriere
della Sera, gained 22.7% on news that Tod's entrepreneur Diego
della Valle had increased his stake to 8.695%.
Tuesday proved a poor day also for other European markets
with the exception of Athens which saw its General Index rise
2.86% to 755.98 points.
Paris's CAC 40 (-1.15%), Madrid's Ibex index (-1.1%),
Frankfurt's DAX (-0.76%) and London's FTSE-100 (-0.43%) all
closed significantly down.
Meanwhile the spread between interest rates on Italian
10-year bonds and the German bund closed nearly unmoved from
Monday at 341 basis points.
The yield on Italian 10-year bonds was 5.05%.
The spread between interest rates on Spain's 10-year bonds
and the German benchmark on the secondary market rose during the
day, but came back to Earth after the Spanish government's
successful bond issue Tuesday.
The difference between interest rates on Spain's boons and
the German bund closed at 426 basis points with a yield of
5.85%, after hitting a peak of 6.06% - the highest since
September 7.

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