Domenica, 23 Settembre 2018

Milan jumps by 1.64%, leading other European markets


Milan, July 29 - Milan's main financial market
jumped by 1.64% Tuesday, leading most of its European
counterparts and driven by gains in Mediaset, the media company
at the centre of a key court ruling involving ex-premier Silvio
The FTSE-Mib's gain of 1.64% led it to close at 16,542.9
points, aided by a sharp 3.45% rise in the value of Mediaset.
Italy's top appeals court, the Court of Cassation, is
poised to rule on a four-year prison sentence previous imposed
on Berlusconi for tax fraud involving Mediaset.
However, those gains were offset by a drop in the value of
Turin-based Fiat, which shed 4.21% on the day.
Meanwhile, the spread between Italy's 10-year bond and its
German counterpart was stable at 273 basis points, down slightly
from Monday's close of 279 basis points.
The yield on Italian 10-year paper closed at 4.40%, down
slightly from Monday's closing yield of 4.46%.
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 rose by 0.15% on
the day, closing at 8,271.02 points, while Paris's CAC 40 closed
up by 0.45% at 3,986.61 points, and London's FTSE edged up by
0.16% to end trading at 6,570.95.
Spain's IBEX 35 climbed by 0.96% to close at 8,456.50

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