Lunedì, 24 Settembre 2018

European markets rise on news of Greece-Troika deal


Milan, October 30 - European markets were up on
Tuesday on word of a deal reached between the Greek government
negotiators and its the Troika of creditors - the European
Commission, the European Central Bank and the International
Monetary Fund.
Greek Premier Antonis Samaras on Tuesday said Greece had
obtained the best deal it could with the Troika, but that it was
the responsibility of the Greek parliament now to approve the
new measures.
Meanwhile, the Spanish parliament voted to invite European
Central Bank (ECB) President Mario Draghi to voice "his opinion"
on a possible, future use of the ECB's anti-spread shield and
its possible implications.
Milan's FTSE MIB index rose 1.12% to close at 15,521
points. Madrid's Ibex index gained 1.36%. Frankfurt's DAX and
London's FTSE-100 indices climbed 1.13% and 0.95%, respectively.
Paris's CAC-40 index closed up 1.48%.
The Italian treasury sold seven billion euros worth of five
and 10-year bonds on Tuesday at the lowest yields seen since
2011. The yield on the 10-year BTP was 4.92%, just under 4.94%
recorded on June 28, 2011. Five year bonds fell to their lowest
yield since May of 2011. Five year bonds sold on Tuesday with a
yield of 3.80% compared to 3.7% on May 13, 2011.
Despite the good news for Italy's bond placement, the
secondary market for Italian bonds hardly budged.
The spread on interest rates between Italian and German
bonds in the secondary market remained nearly unmoved at 351
points - a decline of just four points over Monday's close. The
yield on Italian 10-year bonds was 4.99%.
The spread between Spanish bonds and the German benchmark
closed at 419 basis points, with a yield of 5.67% for Spain's
10-year Bonos.

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