Domenica, 21 Ottobre 2018

European markets fall on Middle East, U.S. fiscal cliff news


Milan, November 16 - Markets dropped across Europe
on Friday, paced by Milan's FTSE MIB index, amid concern over US
economic growth and as fighting continued to escalate in the
Middle East.
Newly re-elected U.S. President Barack Obama discussed
planned US tax hikes for the world's largest economy in
The country's so-called "fiscal cliff" measures, or the
cuts in spending and tax hikes planned by Obama, are slated to
take place by the end of the year. The International Monetary
Fund on Thursday signalled the measures could have global
Stocks were also hurt by the outbreak of fighting between
Israel and Hamas which escalated during the course of Friday.
For the first time from Gaza, Hamas fired rockets at
Israel, while the latter in turn continued bombing the Gaza
Protestors across the Middle East staged demonstrations to
denounce the Israeli attacks.
Italy's Ftse Mib index fell 2% to under 15,000 points.
The yield spread between 10-year Italian bonds and the
German benchmark, a barometer of Italy's borrowing costs in the
eurozone crisis, closed at 354 points with 10-year yields at
The Frankfurt Dax bourse dropped 1.3% to 6,950, while the
Paris Cac 40 Index fell 1.2% to 3,341 points.
Madrid's Ibex index dropped 1.4% to 7,588 points.
London's Ftse-100 stock market declined 1.3% to 5,606

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