Sabato, 20 Ottobre 2018

European markets slump amid new economic growth concerns


Milan, October 19 - Markets slumped across Europe
on Friday, paced by Milan's Ftse Mib index, as stocks reacted
negatively to U.S. companies' profit announcements and after
European leaders failed to discuss a financial bailout plan for
Spain at a meeting in Brussels.
Italy's Ftse Mib index dropped 2% to 15,862 points, led by
stocks such as media company Mediaset, which dropped 5.7%, and
Finmeccanica, which fell 5.6%.
The yield spread between 10-year Italian bonds and the
German benchmark closed at 317, as investor concern about the
ongoing debt crisis was heightened by the failure of European
leaders to further discuss a financial bailout plan for Spain at
a summit in Brussels.
The spread, a barometer of Italy's borrowing costs in the
eurozone crisis, closed with 10-year yields at 4.8%.
Stocks across Europe fell after Microsoft Corp., McDonald's
Corp. and General Electric Co. missed their earnings estimates.
The Frankfurt Dax bourse fell 0.8% to 7,380 points, while
the Paris Cac 40 Index dropped 0.9% to 3,504 points.
Madrid's Ibex index fell 2.31% to close at 7,913.40 points.
London's Ftse-100 stock market fell 0.4% to 5,896 points.

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