Venerdì, 19 Ottobre 2018

Milan bourse closes up 0.8% despite stalled Greek debt deal


Milan, November 21 - European markets ended
Wednesday mostly flat after eurozone finance officials meeting
in Brussels again failed to find a deal to help Greece come
through its debt crisis and as US markets were thin ahead of the
Thanksgiving weekend.
Greece now has to wait longer to get a long-withheld
tranche of aid of nearly 32 billion euros, without which it
faces the prospect of a possible default and exit from the euro.
Some form of a deal had been expected by Wednesday after
ministers met for 11 hours late Tuesday.
According to an official statement at the end of the talks,
finance ministers and officials "made progress in identifying a
consistent package of credible initiatives," with Greece having
completed all the work on its end.
Milan's FTSE MIB ended the day up 0.82% at 15,394.6,
boosted by banks like BPM, up 2.88%, and Intesa Sanpaolo, up
2.05%, as well as Mediaset, up 1.96%, and publishing group RCS
up 2.6%.
In other European markets, London's FTSE 100 closed up
0.07% at 5,752.03, Paris's CAC 40 edged up 0.44% to 3,477.36,
Frankfurt's DAX closed flat at 7,184.71 and Madrid's IBEX 35
edged up 0.34% to 7,805.40.
The spread between 10-year Italian government paper and its
German equivalent closed at 341 basis points, slightly lower
than Tuesday's 343-point difference with Italian debt yielding
The spread is an important indicator of investor confidence
in Italy's ability to weather the euro crisis.

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