Giovedì, 20 Settembre 2018
MILAN

European markets fall on U.S. budget talks deadline concerns

English
© ANSA

Milan, December 28 - Markets fell across Europe on
Friday, paced by Milan’s FTSE MIB index, amid investor concern
about the possibility US lawmakers may fail to reach a budget
agreement by the end of the year, setting in motion as much some
$600 billion in spending cuts and tax increases.
President Barack, who returned early from his family
vacation in Hawaii Thursday to resume negotiations, is set to
meet with Democratic and Republican leaders to negotiate a way
out of the budget talks stalemate.
Failing to reach an agreement on the budget by the year-end
deadline could trigger negative fallout such as repercussions on
the U.S. credit rating and also possibly cause a recession,
analysts have said.
Italy's FTSE MIB index fell 0.8% to 16,723 points.
The Italian benchmark FTSE MIB stock market rose 8.3%
during the course of 2012, whilst the FTSE All Share Index
gained 8.7% in the period.
Only one company, luxury garment-maker Cucinelli, carried
out an initial public offering this year on the Italian
exchange, whilst the total number of public traded companies
declined to 323 as a result of 13 delistings.
The yield spread between 10-year Italian bonds and the
German benchmark bonds, a barometer of Italy's borrowing costs
in the eurozone crisis, closed down at 318 points with 10-year
yields at 4.5%.
A year ago, the spread was 525 points and 10-year yields
were at about 7%.
The Frankfurt Dax bourse dropped 0.6% to 7,612 points,
while the Paris Cac 40 Index declined 1.5% to 3,620 points.
Madrid's Ibex index fell 1.8 % to 8,131 points. London's
FTSE-100 stock market dropped 0.5% to 5,925 points.

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