Domenica, 23 Settembre 2018
MILAN

Small gains in Milan, other European financial markets mixed

English
© ANSA

Milan, December 27 - Milan showed small gains
Thursday while other European financial markets held their
ground despite fears over the outlook for the United States.
On the Milan Stock Exchange, the FTSE Mib gained 0.45% to
close at 16, 408 points.
Trading was light on many financial markets due to the
holiday season, but investors seemed nervous that politicians in
the U.S. may not find the necessary compromise to avoid the
so-called "fiscal cliff" of billions of dollars in austerity
measures due to kick in at year-end.
Harry Reid, Democratic party leader in the U.S. Senate,
said that it seems his country is heading towards the fiscal
cliff, which would trigger recession.
"It looks like that's where we're headed", Reid said on the
Senate floor Thursday.
That gloomy assessment of the failure of bipartisan
negotiations triggered a sell-off on stock markets in the U.S.
Italian investors were rattled by a study released Thursday
that suggested continued recession in 2013.
The country's gross domestic product won't do quite as
badly next year as in this year, but GDP will slide by about 1%
in 2013 compared with an average loss of 2.1% in 2012, said
Intesa Sanpaolo.
Meanwhile, the spread between Italy's benchmark 10-year
bond and its ultra-safe German counterpart closed higher at 321
basis points.
The yield on Italian ten-year bonds was 4.52%.
In other European markets, Frankfurt's DAX closed up by
0.26% to reach 7,655.88 points, while London's FTSE 100 closed
trading lower by only 0.02% at 5,953.07 points, Paris's CAC 40
gained 0.6% to close at 3,674.26 points, and Spain's IBEX 35
ended the day 0.22% lower at 8,281 points.

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