Giovedì, 20 Settembre 2018

Milan's major stock exchange leads European market strength


Milan, May 7 - European stock markets recorded
gains Tuesday, led by a small rally on Italy's major financial
market which managed to break the 17,000 mark.
On the Milan Stock Exchange, the FTSE Mib rose by 1.54% in
trading to end the day at 17,121 points, passing a
psychologically important barrier for traders.
Meanwhile, the spread between Italian and German debt, an
indicator of investor confidence in Italian government paper,
reached 257 basis points at close of trading on Tuesday,
slightly lower than Monday's closing spread of 267 basis points.
The yield on 10-year Treasury bonds was 3.85% Tuesday, down
slightly from the previous day's close of 3.91%.
Market sentiment in Europe was boosted after Portugal
issued 10-year government bonds for the first time since it
received a bailout two years ago.
Banking shares were also higher following a positive
financial report from giant HSBC, Europe's biggest bank by
market value.
It reported that profits more than doubled in the first
quarter as the bank benefited from recent restructuring efforts,
and booked fewer bad loans.
Most other European equity markets also recorded
significant gains during the day.
Frankfurt's DAX rose by 0.86% to reach 8,181.78 points,
while Paris's CAC 40 rose by 0.37% to close at 3,921.32 points,
and London's FTSE 100 ended the trading day 0.55% higher,
closing at 6,557.30.
Spain's IBEX 35 also closed trading on a positive note,
ending the day 0.47% higher at 8,544 points.

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