Giovedì, 20 Settembre 2018

Milan gains almost 1% while other euro markets soften


Milan, August 7 - Milan's main financial market
gained almost 1% on Wednesday, while other European markets
softened amid concerns over central bank policies.
The FTSE-Mib climbed by 0.93% to close at 16,838 points
while London's FTSE shed 1.40% ending trading at 6,511.21 after
the Bank of England said it had no immediate plans to raise its
benchmark interest rate.
The central bank also warned that it will not reduce bond
purchases until the United Kingdom's unemployment rate falls
below 7%.
With the national jobless rate at 7.8% in the last quarter,
the BOE expects it will stay above 7% for as long as the next
three years.
At the same time, investors were digesting hints that the
United States Federal Reserve may be nearing the end of its
stimulus program, which has been responsible for significant
financial markets gains.
Chicago Fed President Charles Evans said Tuesday that,
depending on the economic and financial data coming in, the U.S.
Federal Reserve could scale down its enormous bond-buying
program later this fall.
Meanwhile, the spread between Italy's 10-year bond and its
German counterpart closed at 256 basis points - essentially
unchanged from Tuesday's closing spread of 255 basis points.
The yield on Italian 10-year paper closed at 4.25%,
unchanged from the previous day.
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 0.47% to
close at 8,260.48 points, while Paris's CAC 40 gained 0.15%,
ending trading at 4,038.49 points, and Spain's IBEX 35 gained
0.52% to close at 8,574.10 points.

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