Martedì, 18 Settembre 2018

European stocks sputter on U.K. economy fears, sluggish Dow


Milan, March 12 - European stocks ended mostly flat
on Tuesday after downbeat news on the UK economy and weaker US
markets made investors wary.
In the UK worse than predicted January manufacturing
output figures triggered fears the country could be headed for a
triple-dip recession.
Manufacturing output fell 1.5% on the month, compared with
an expected 0.1% rise, and dropped 1.6% on the year, compared
with a predicted 1% fall.
In the generally flat trading climate, Milan's FTSE-MIB
ended the day down 0.4% at 16,024, followed by Spain's IBEX 35,
down 0.3% at 8,532.3, and Frankfurt's DAX, which shed 0.2% at
London's FTSE-100 and Paris' CAC 40 ended the day slightly
higher, up 0.1% at 6,510.6 and up 0.1% at 3,840, respectively.
Italy's financials-heavy index was hit, among others, by
share declines at Mediobanca (-1.9%) and UniCredit (-1.5%),
while Intesa Sanpaolo ended the day flat.
Other losers included luxury goods maker Salvatore
Ferragamo (-4.5%), STMicroelectronics (-4.6%), Fiat (-2.6%) and
tyre maker Pirelli (-4.2%) after its 2012 results underwhelmed.
Counterbalancing the losses were gainers, including Saipem
(+5.4%), helped by a positive report by investment bank Akros
after the company reported new contracts in Africa.
Mediaset gained 5.1% as some investors had to buy shares to
close short positions. Meanwhile, Telecom Italia posted a 2.9%
gain on hopes the company would soon announced a deal with
unions which would allow it to shed some employees.
Meanwhile the spread between the country's 10-year
government bonds and their German equivalent - a key indicator
of investors' confidence in the Italian economy - remained at
312 basis points, unchanged with respect to Monday's close.

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