Martedì, 23 Ottobre 2018

European markets rise slightly on positive U.S, China data


(ANSA) – Milan, October 24 – European stock markets closed
slightly higher Wednesday despite signs that the European
economy is weakening further.
However indications that the Chinese economy is recovering
from its weakest period of growth in three years, coupled with
an expansion in US manufacturing, helped keep investor sentiment
mildly positive.
Milan's FTSE MIB index was the best performer among the
main European indexes, edging up 0.82%.
Boosting the Milan bourse was news that blue-chip
Finmeccanica SpA's Ansaldo unit won a 300-million-euro contract
for an energy project in Algeria.
Also boosting investor sentiment in Milan were the
announcement of a major cost-cutting program by computer chip
maker STM as well as positive nine-month results reported by
energy giant Saipem.
Mediaset, the media company controlled by former premier
Silvio Berlusconi, closed lower after reporting a major drop in
its Spain unit's profits.
London's FTSE-100 index closed up 0.12%, Madrid’s Ibex35
gained 0.57% while Paris' CAC 40 and Frankfurt's DAX ended,
respectively, 0.59% and 0.27% higher.
Italian bond-interest rates dropped slightly from Tuesday's
4.87%, ending the day at 4.84%, while the spread between Italian
bond rates and the German equivalent closed at 328 basis points,
one lower than Tuesday.
The difference between interest rates on Spanish bonds and
the German benchmark also dropped Wednesday, to close at 401,
from Tuesday's close of 407.
Bond spreads are an important gauge of market confidence in
Italy's and Spain's ability to pay down their large public

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