Lunedì, 24 Settembre 2018

Markets lose ground, slack trading while Sandy shuts Wall St


Milan, October 29 - Fear of a new Italian political
crisis set the Milan bourse sinking and the Italian spread
rising on Monday, while other major European stock exchanges
slipped less dramatically in the absence of signals from Wall
Street, which was shut down for Hurricane Sandy on Monday.
The spread between interest rates on Italian and German
bonds widened dramatically on Monday to close at 355 basis
points after ex-premier Silvio Berlusconi threatened to pull his
support for Premier Mario Monti on Saturday, a move that could
wipe out the technical government's parliament majority.
The spread had closed at 336 points on Friday.
The yield on Italian 10-year bonds crossed the 5% threshold
on Monday to close at 5.01%.
The Italian spread is an important gauge of the market's
confidence in Italy's ability to pay down its huge debt.
Milan's FTSE MIB index lost 1.51% to close at 15,349 points
in slack trading.
Madrid's Ibex 35 and Paris's CAC 40 indices lost 0.59% and
0.76% respectively.
London's FTSE-100 fell 0.20%, and Frankfurt's DAX slipped
Meanwhile, Athens Athex index plunged 6.28% on Monday after
the German government's spokesperson said, "A new cut in Greek
debt is not in discussion".
The spokesperson's words confirmed what was said by German
Finance Minister Wolfgang Schaeuble over the weekend.

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