Sabato, 20 Ottobre 2018

Milan stock exchange slides amid continued uncertainty


Milan, March 4 - Political uncertainty in Italy
continued to haunt the country's major financial market Monday,
causing further losses among investors.
The Milan Stock Exchange's benchmark FTSE Mib index lost
0.85% in trading to end the day at 15,542 points.
Most other European markets were also sluggish on the day,
but Milan took the greatest hit as investors continue to fret
after last week's Italian general election failed to produce a
With no clear leadership in sight, it is hard to read what
future economic and fiscal policies will govern Italy.
Meanwhile, the spread between Italian and German 10-year
bonds, an indicator of investor confidence in Italian government
paper, reached 346 basis points at close of trading Monday,
slightly higher than last Friday's closing of 340.
This was caused by the yield on 10-year Treasury bonds
climbing to 4.88%, up from Friday's close of 4.79%.
Italian banks continued to suffer losses as increases in
borrowing costs hit their bottom lines very quickly and
Intesa Sanpaolo lost 3.22% on Monday's trading while
Unicredit fell by 2.51% and the troubled Monte dei Paschi di
Siena lost 3.25%.
Most other European equity markets also began the week with
Frankfurt's DAX slipped by 0.21% to drop to 7,691.68
points, while Paris's CAC 40 fell by 0.27% to close at 3,709.76
points, and London's FTSE 100 ended the trading day 0.52% lower,
closing at 6,345.63.
Only Spain's IBEX 35 closed trading on a positive note,
ending the day 0.72% higher at 8,246.30 points.

© Riproduzione riservata

* Campi obbligatori

Immagine non superiore a 5Mb (Formati permessi: JPG, JPEG, PNG)
Video non superiore a 10Mb (Formati permessi: MP4, MOV, M4V)


Accedi con il tuo account Facebook

Login con

Login con Facebook
  • Seguici su