Lunedì, 22 Ottobre 2018
MILAN

European markets rally on Vodafone bid rumor, U.S. data

English
© ANSA

Milan, April 2 - European stocks ended the day up
as rumors of a takeover offer for telecoms giant Vodafone in the
UK encouraged investors to push up stocks on the hopes of a
renewed cycle of activity on both sides of the Atlantic.
On the first day of trading in April, Milan's FTSE-Mib
gained 1.4% to close at 15,555.03.
The other main European markets all put in a positive
performance: Madrid's IBEX notched up a 1.65% gain to close at
8,050.40, the Paris CAC 40 closed the day up 1.98% at 3,805.37
and the Frankfurt DAX gained 1.9% to close at 7,943.87.
In Britain, where telecoms giant Vodafone Group Plc is
listed, the FTSE 100 gained 1.23%, closing the day at 6,490.66.
Shares in Vodafone jumped 2.9% to their highest level in
more than five years after the Financial Times reported US
telecoms giants Verizon and AT&T were considering a joint bid
and breakup of the UK firm.
A report on eurozone manufacturing activity, which came in
better than expected, and a 3% rise in U.S. factory orders also
helped boost markets.
In Milan, the Vodafone bid rumors helped boost Telecom
Italia, which gained 2.8% to close at 0.56 euros.
Holding back what could have been a broader Milan rally
were troubled lender Monte dei Paschi di Siena (MPS), whose
shares slid 2.8% after the world's oldest bank said its 2012
loss totaled some three billion euros.
The bank Mediobanca also ended the day lower, shedding
3.1%, however lending giants Unicredit and Intesa Sanpaolo ended
the day on a positive note, gaining respectively 1.5% and 2.01%.
Despite positive sales figures for March, shares in Italian
carmaker Fiat shed 1.3%.
Mediobanca on Tuesday issued a report in which it said it
sees an increasing possibility that Fiat will sell its Alfa
Romeo brand to Volkswagen to finance the complete acquisition of
its US-controlled Chrysler unit.
Meanwhile, the spread between Italy's 10-year government
debt and its German counterpart, an important indicator of
investor confidence in Italy, edged lower Tuesday, closing at
333 basis points from Monday's close of 340.

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