Mercoledì, 17 Ottobre 2018

Milan bourse down despite 8.5-bln-euro bond auction


Milan, March 26 - Midday trading on the Milan
bourse was down Tuesday while the bond spread with the German
benchmark bund narrowed after a successful quarterly bond
auction where the Treasury unloaded 8.5 billion euros in State
The FTSE-Mib was down 1.2% at 15,456 points, held down by
Telecom, down 5.6%, troubled Italian bank MPS, down 2.56% and
automaker Fiat, down 1.86%
Losses were partially diminished by tire maker Pirelli, up
1.37%, and Italian bank BPM, up 1.22%.
The downturn came after the European Commission announced
large bank deposits in Europe could be taxed for future bank
bailouts, similar to the Cyprus bailout agreed Monday.
The spread, an important indicator of investor confidence
in the country's ability to exit the euro crisis, fell eight
basis points to 320.
The yield was down to 4.58%.

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