Venerdì, 19 Ottobre 2018
MILAN

Milan, other European markets drop in Wednesday trading

English
© ANSA

Milan, June 5 - Milan's leading financial market
joined its European counterparts Wednesday in closing lower,
following trends in Japan.
The FTSE-Mib fell by 0.96%, dropping to 16,971 points as
investors watched a free fall on Japan's Nikkei 225, which shed
a staggering 3.8% in value.
Investors seemed to reject the tone and content of a speech
by Prime Minister Shinzo Abe on Japan's growth strategy.
The Nikkei is now down 17% from its May 22 peak.
Markets were also concerned about weakness in the European
economy.
Euro-area GDP fell 0.2% last quarter, the European Union's
statistics office said, confirming an estimate released on May
15.
Investors also debated the possibility the European Central
Bank on Thursday might again reduce its policy rates, already at
historic lows, to further stimulate the struggling European
economy.
Meanwhile, the spread between Italy's 10-year bond and its
German counterpart closed at 262 basis points, slightly higher
than Tuesday's close of 256 basis points.
The yield on Italian 10-year paper closed at 4.13%.
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 fell by 1.20%,
closing at 8,196.18 points, while Paris's CAC 40 fell by 1.87%,
closing at 3,852.44 points, and Spain's IBEX 35 shed 0.86% to
close at 8,290.70 points.
London's FTSE 100 fell by 2.12% to end trading at 6,419.31.

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