Giovedì, 18 Ottobre 2018
MILAN

European markets rise, Italian bond spread stable

English
© ANSA

(ANSA) - Milan, October 15 - European markets rose after
reports of significant progress on financial talks leaked
through Greek press on Monday.
The Greek government and the troika - representatives of
the European Union (EU), the European Central Bank (ECB) and the
International Monetary Fund (IMF) - reached essential terms of
agreement on a 13.5 billion-euro deal, which laid out
refinancing in exchange for deep reforms and more austerity,
under the looming deadline of the European leaders' summit on
Thursday, reported Greek newspaper Kathimerini.
Paris's CAC 40 index gained 0.92%.
Madrid's Ibex 35 index rose 0.34%.
Frankfurt's DAX index closed up 0.4%.
Milan's FTSE MIB climbed 0.50% to close at 15,590 points on
a day that also saw rosier economic reports from Italy's
government.
Italy's gross domestic product should bounce back up as
high as 2.5% in 2013 from current recessionary levels, Industry
Minister Corrado Passera said Monday, giving credit to reforms
passed by Premier Mario Monti's government, the effects of which
Passera said would kick in next year.
Italian public debt fell to 1,975,631 billion euros in
August from 1,977,494 in July, the Bank of Italy reported on
Monday.
Tax revenue was up 2.8%, to 257,121 billion euros, in the
first eight months of the year compared to the same period in
2011, added the Italian central bank.
The spread between interest rates on Italian and German
bonds - a barometer of Italy's borrowing costs - closed nearly
stable at 350 points, after oscillating as low as 345 points on
Monday.
On Friday, it had closed at 353 points.
The yield on Italian 10-year bonds slipped below 5% to
close at 4.98%, though it had dipped to 4.95% during the day.
The spread between Spanish bonds and the German benchmark
on Monday closed at 434 basis points.
The yield on Spanish bonds was 5.81%.

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