Martedì, 23 Ottobre 2018

Milan flat, other European markets rise Tuesday


Milan, July 9 - After a powerful showing one day
earlier, Milan's leading financial market stalled Tuesday while
most of its European counterparts continued to rise in trading.
The FTSE-Mib slipped by 0.06% to close at 15,790 points.
The spread between Italy's 10-year bond and its German
counterpart climbed to 275 basis points from 268 points one day
earlier, while the yield on Italian 10-year paper also remained
stable, closing at 4.40%.
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
1.10%, closing at 8,057.75 points, Paris's CAC 40 gained 0.52%,
closing at 3,843.56 points, Spain's IBEX 35 was basically
unchanged closing at 8,014.80 points, and London's FTSE 100
climbed by 0.98% to end trading at 6,513.08.
Following the close of European markets, Standard & Poor's
cut its rating for Italy down to BBB from BBB+ with a negative
In a statement, the ratings agency said the Italian economy
will contract by 1.9% in 2013, with a debt-to-GDP ratio of 129%.

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