Giovedì, 18 Ottobre 2018

Milan, other European markets rally Wednesday


Milan, May 22 - Milan's leading financial market
rose alongside most other European markets Wednesday, all buoyed
by pledges that the United States Federal Reserve intends to
keep its foot on the gas pedal.
Markets rallied after Ben Bernanke, Fed chairman, told
Congress that despite recent improvements in the American job
market, the Federal Reserve needs to continue its stimulus
Otherwise, changes to monetary policy could put the nascent
US recovery at risk, Bernanke added.
Stimulative policies in the U.S. economy - essentially,
injections of liquidity - have been important in promoting
economic growth in its many trading partners.
On the Milan Stock Exchange, the FTSE-Mib gained 0.68% to
close trading at 17,545 points.
Meanwhile, Italy's debt market also showed some strength,
narrowing the spread between Italian and German debt.
The spread closed trading at 248 basis points - its lowest
level since January 30 - and slightly lower than Tuesday's close
of 253 basis points.
The yield on 10-year Treasury bonds ended Wednesday's
trading at 3.90%.
The spread between lending rates in the two countries is
seen as an indication of investor faith in the Italian economy
and its ability to cope with a lingering recession.
On other European markets, Frankfurt's DAX climbed by fully
0.69% to close at 8,530.89 points, while Paris's CAC 40 rose by
0.37%, closing at 4,051.11 points, and London's FTSE 100 gained
0.53% to close at 6,840.27.
Spain's IBEX 35 was essentially unchanged, closing at
8,462.40 points.

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