Giovedì, 20 Settembre 2018
MILAN

Milan shares jump as new government gives hope to investors

English
© ANSA

Milan, April 29 - European markets rallied Monday,
with Italy's FTSE MIB leading gainers as investors reacted
positively amid signs a new government would end the political
impasse that has paralyzed the country since inconclusive
elections in February.
Two debt auctions also left Italy paying yields not seen in
over two years.
In another sign of investor confidence in Italy, the spread
between the country's 10-year debt and its German equivalent
dropped to 270 basis points, compared with 290 basis points
Friday.
Italy auctioned off 3.0 billion euros in five-year bonds
and 3.0 billion euros in 10-year bonds with the yield on the
five-year debt down to 2.84% (from 3.65% at the last auction, on
March 27) and the yield on the 10-year debt at 3.95%, down from
4.66% at the previous auction.
The yields were the lowest Italy had seen since October
2010.
The FTSE MIB closed up 2.2% at 16,929.68, powering ahead of
Spain's IBEX 35, up 1.85% at 8,450.9 and France's CAC 40, which
ended the day +1.54% at 3,868.68.
Bourses in Germany and the UK also ended the day in
positive territory, but marking up more modest gains:
Frankfurt's DAX edged up o.75% to close at 7,873.5, while the
FTSE 100 closed up 0.49% at 6,458.02.
The Milan rally happened despite a downbeat report earlier
Monday by the national statistics agency which showed that
Italian manufacturing confidence dropped in April, a reversal of
the positive trend seen in the previous three months.
In terms of shares, gainers include Mediaset (the media
company owned by former Premier Silvio Berlusconi's family),
which notched up a +4.68% gain, utilities operator A2A, up
6.11%, Telecom Italia, up 3.7% and electricity grid operator
Terna, up 3.7 percent.
Bad news hit shares of Fiat, which reported a first quarter
loss, as well as media company RCS, the publisher of Corriere
della Sera, dragged down by a board meeting which agreed to a
reduction in corporate capital after losses.

© Riproduzione riservata

* Campi obbligatori

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

X
ACCEDI

Accedi con il tuo account Facebook

Login con

Login con Facebook