Giovedì, 18 Ottobre 2018
MILAN

Milan follows rise in optimistic European financial markets

English
© ANSA

Milan, December 19 - European financial markets
showed small gains and Milan ended trading 1.1% higher Wednesday
amid economic optimism around news from Germany and the United
States.
Investors remain hopeful that politicians in the U.S. will
find some sort of compromise to avoid the so-called "fiscal
cliff" of billions of dollars in austerity measures due to kick
in at year end.
Negotiations have been up and down, yet market players seem
optimistic that cooler heads will prevail and a deal will be
reached by American lawmakers.
Optimism was also fueled Wednesday by an important German
business survey that suggested Europe's largest economy seems
prepared to recover quickly from the slowdown it has faced.
Germany's Ifo institute's business confidence index rose to
102.4 in December from 101.4 in November, beating expectations
of a rise to 102.
In cautious anticipation, on the Milan Stock Exchange the
FTSE Mib gained 1.1% to close at 16,322 points.
And the spread between Italy's benchmark 10-year bond and
its ultra-safe German counterpart closed lower at 296 basis
points.
The yield on Italian ten-year bonds was 4.39%, the lowest
since November 2010.
The shrinking spread and lower yield suggests some
stability is returning to bond markets, where the spread
indicates investor confidence in the outlook for the Italian
economy.
In other European markets, Frankfurt's DAX closed up by
0.19% to reach 7,669.50 points, while London's FTSE 100 also
closed trading up by 0.43% at 5,961.59 points, Paris's CAC 40
gained 0.44% to close at 3,664.59 points, and Spain's IBEX 35
ended the day 1.01% higher at 8,251.40 points.

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