Lunedì, 24 Settembre 2018

Europe markets reverse losses on Greece optimism

English
© ANSA

(ANSA) – Milan, November 13 – European stocks reversed
earlier losses Tuesday closing slightly higher after Greece
managed to avoid defaulting on a 5.0 billion euro tranche of
public debt and as results at US home improvement giant Home
Depot indicated further evidence of a turnaround in the American
housing market.
Markets were also boosted by reports in the German press
that Greece may receive a large dollop of financial assistance
in order to help it buy more time with its restructuring
program.
In terms of markets, Italy’s FTSE MIB ended the day up
1.4%, at 15,333.10, while Spain’s IBEX-35 rose 1.7% to 7,693.
Lifting Milan shares were banking giants Unicredit and
Intesa Sanpaolo. Unicredit’s latest three-month earnings were
higher than market expectations.
Foods group Parmalat and eyewear giant Luxottica also
closed higher Tuesday, while luxury goods giant Tod’s slipped
over 6% after releasing its nine-month results.
The other main continental markets, Germany and France,
closed marginally higher, with Frankfurt’s DAX edging up 0.01%
to 7,169 and Paris’ CAC 40 up 0.56% to 3,430.
London’s FTSE 100 closed up 0.33% at 5,876, while Greece’s
ASE Composite index advanced 0.4% to 775.72.
Meanwhile the spread between Italy’s 10-year benchmark bond
and its German equivalent – an indicator of how investors view
the prospect’s of Italy’s economy – closed at 362 basis points,
slightly lower than Monday’s closing of 368 basis points.

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