Martedì, 23 Ottobre 2018

Milan, other European markets show gains in Monday trading


Milan, June 17 - Milan's leading financial market,
like the rest of its European counterparts, showed some small
gains Monday.
The FTSE-Mib rose by 0.25% to reach 16,194 points as
investors took their cue from Wall Street, which opened on a
strong note.
There, markets seemed to shake off earlier fears that the
United States Federal Reserve, during meetings this week, could
decide to suspend its massive bond-buying program.
The American central bank meets Tuesday and Wednesday, but
investors seem less fearful of drastic action from the Fed.
One dark note in trading in Milan came from Saipem, the
Italian oil-services company that warned late last week that
profits were about to take a tumble.
In reaction, Saipem shares plunged by 27.95% in Monday's
But the confidence on Wall Street was also reflected in
bond markets on both sides of the Atlantic.
The spread between Italy's 10-year bond and its German
counterpart closed at 274 basis points, slightly lower than last
week's close, while the yield on Italian 10-year paper also
remained stable, closing at 4.26%.
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 1.08%,
closing at 8,215.73 points, Paris's CAC 40 rose by 1.54%,
closing at 3,863.66 points, Spain's IBEX 35 gained 0.81% to
close at 8,136.30 points, and London's FTSE 100 rose by 0.35% to
end trading at 6,330.49.

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