Sabato, 22 Settembre 2018
MILAN

Milan bourse drops as Tokyo shares tumble

English
© ANSA

Milan, May 23 - Milan's leading financial market
plunged by almost 3% in early trading Thursday as European
markets weakened over fears triggered by manufacturing data from
Asia.
The FTSE-Mib lost 2.8% in morning activity while in Paris,
markets shed 2.5%, Frankfurt fell by 2.6% and London's FTSE 100
dropped 1.8%.
All were reacting to reports that Asia's two largest
economies - China and Japan - are showing significant signs of
stress.
A dramatic 7.3% plunge in the Japan's Nikkei 225-share
index was blamed, at least in part, on a weak purchasing
managers' index that suggests the massive Chinese economy has
lost steam.
That, in turn, triggered fears that the new Japanese
government's efforts to stimulate economic growth may not
succeed in the longer term.
Stock markets fell across the region in response,
triggering a sell-off in Europe.
Meanwhile, the spread between Italy's 10-year bond and its
German counterpart widened to 262 basis points in early trading,
up from Wednesday's close of 248 points.
The yield on Italian 10-year paper nudged up slightly to
4%.
The spread is a good indication of investor faith in the
Italian economy and its ability to ride out the current
recession.

© Riproduzione riservata

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