Sabato, 20 Ottobre 2018

Milan, other European markets rise


Milan, May 30 - Milan's leading financial market,
like most of its European counterparts, rose Thursday as
investors held out hope that the US Federal Reserve will
continue with its stimulus policies.
Milan's FTSE Mib gained 0.66% in Thursday's trading, rising
to end the day at 17,350 points.
Although investors pulled back on Wednesday over strong
economic data in the United States, which drove down financial
markets, they paused Thursday to reassess.
Confidence that the Fed will leave policy as it now is was
fed by news that the U.S. economy was weaker than expected in
the first quarter of this year.
The U.S. Commerce Department reported that the American
economy grew by 2.4% in Q1, down slightly from the initial
estimate of 2.5% growth.
Analysts had predicted there would be no change in the
growth figures.
The easing of investor concerns over the Fed's actions
helped to narrow the spread between Italy's 10-year bond and its
German counterpart, which closed at 259 basis points.
That was a bit narrower than Wednesday's close of 265 basis
The yield on Italian 10-year paper closed at 4.10%.
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 gained 0.76%, closing at 8,400.20 points,
while Paris's CAC 40 rose by 0.56%, closing at 3,996.31 points,
and Spain's IBEX 35 shed 0.10% to close at 8,433.50 points.
London's FTSE 100 rose by 0.45% points to close at 6,656.99

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