Martedì, 18 Settembre 2018

Milan bourse greets Letta government with gains


Rome, April 29 - The Milan stock exchange greeted
last weekend's swearing-in of Premier Enrico Letta's government
and the end of two months of political deadlock in Italy with
big gains in early trading on Monday.
Milan's FTSE Mib index climbed 1.7% in less than an hour of
business, with insurance firm Fonsai, ex-premier Silvio
Berlusconi's Mediaset group and bank Intesa Sanpaolo leading the
way with gains of 3.8%, 3.3% and 2.8% respectively.
Pressure also eased on Italian bonds ahead of a big auction
of five-year and 10-year BTP bonds on Monday.
The spread between the 10-year bond and the German
benchmark, a key measure of Italy's borrowing costs and of
investor confidence, dropped to 275 points with the yield under
4%, at 3.9%.
The spread closed at 285 points on Friday.

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