Venerdì, 19 Ottobre 2018

Italian stock markets show strong gains, led by banks


Milan, January 9 - Italian bank stocks surged on
Wednesday, lifting the country's key financial market and
leading those in the rest of Europe.
On the Milan Stock Exchange, the FTSE Mib gained 2.21% to
close at 17,326 points - its highest level in 17 months.
The index was lifted by strong interest in
telecommunications equities as well as an upbeat sentiment due
to encouraging earnings on stock markets in the United States.
But key to Wednesday's gains in Milan was the continued
investor interest in banks shares.
Overall, the financial-services sector has been on the rise
over news that implementation of some Basel III liquidity
standards have been delayed for four years and other
requirements eased.
Italian banks already meet the Basel III liquidity
requirements, but the easing of rules has been generally
positive for financial-sector stocks.
Meanwhile, the spread between Italy's benchmark 10-year
bond and its ultra-safe German counterpart closed at 282 basis
points, roughly where it has lingered all week.
At close of trading Wednesday, the yield on 10-year Italian
paper stood at 4.29%, the same point as where it closed one day
In other European markets, Frankfurt's DAX rose by 0.32% to
reach 7,702.47 points, while London's FTSE 100 fell by 0.74% to
close at 6,098.65 points, Paris's CAC 40 ended the day up by
0.25% to 3,715.02 points, and Spain's IBEX 35 ended the day
1.87% higher at 8,611.10 points.

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