Martedì, 18 Settembre 2018
MILAN

Milan stock market loses ground despite optimism in Greece

English
© ANSA

Milan, November 27 - Milan's stock market closed
slightly lower Tuesday while other European markets edged a bit
higher on the day.
Analysts said there was no particular news moving markets
by close of trading as the Milan's FTSE Mib fell by 0.26% to end
the day at 15,479 points.
Earlier, markets had been buoyed by news that a deal was
reached with Eurogroup finance ministers on Greece, allowing the
International Monetary Fund (IMF) to put the finishing touches
on a new package of aid for the troubled country.
However, optimism generated by the news faded as the day
progressed.
In positive news, the spread between Italy's 10-year bond
and its German counterpart closed Tuesday at a relatively modest
330 basis points, with a yield of 4.74% on the Italian paper.
The spread is a good indicator of investor confidence in
the Italian economy in relation to the relative strength of
powerhouse Germany.
Monday's spread between Spanish and German bonds stood at
410 basis points, with a yield on the Spanish benchmark bond of
5.53%.
Results were mixed on other European markets.
In Madrid, the Ibex 35 index slipped by 0.14% to close at
7,863.70 points while in Paris, the Cac 40 was practically
unchanged, gaining just 0.03% to end the day at 3,502.13 points.
London showed more positive results, as the FTSE-100 index
gained 0.22% to reach 5,799.71 points; and in Frankfurt, the Dax
index closed higher by 0.55%, to 7,332.33 points.

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