Giovedì, 20 Settembre 2018
MILAN

Europe markets mixed as Milan gains, London, Madrid flat

English
© ANSA

Milan, October 26 - Markets were mixed across
Europe on Friday, paced by Milan's FTSE MIB index, as
higher-than-expected economic growth figures released for the
third quarter of the year in the US failed to offset the
negative effects of lower-than-expected earnings from companies
such as Apple Inc. and Goodyear Tire & Rubber Co.
Italy's FTSE MIB index rose 0.4% to 15,584 points.
Shares in Mediaset, the company controlled by ex-premier
Silvio Berlusconi, slumped 3% on Milan's stock market following
news that the media mogul was convicted of fraud by a Milan
court.
Berlusconi was found guilty of tax fraud in the trading of
film rights for TV broadcasts by his Mediaset media empire,
sentenced to four years in prison and banned from public office
for five years.
Berlusconi is expected to appeal the verdict.
The US grew a higher-than-expected 2% in the three months
ending in September, as a large increase in government lending
fed through to economic growth in the world's largest economy.
A group of 86 economists surveyed by Bloomberg had
predicted a 1.8% gain in economic growth for the period.
The data is the last important economic data to be released
before the November presidential elections on November 6, in
which incumbent Barack Obama is challenged by Republican
candidate Mitt Romney.
Analysts broadly believe that good economic news will help
Obama's chances of re-election.
The US economy had grown 1.3% in the second quarter of the
year
The yield spread between 10-year Italian bonds and the
German benchmark rose, as investor concern about the ongoing
debt crisis was pared by the possibility of concrete action by
the region's political leaders in conjunction with the European
Central Bank.
The spread, a barometer of Italy's borrowing costs in the
eurozone crisis, closed at 336 points with 10-year yields at
4.9%.
The Frankfurt Dax bourse fell 0.4% at 7,232, while the
Paris Cac 40 Index rose 0.7% to 3,435 points.
Madrid's Ibex index was little changed at 7,775 points.
London's Ftse-100 stock market was also flat at 5,806
points.

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