Giovedì, 20 Settembre 2018

Italy-German spread narrows to 240 points


Milan, September 3 - Investors showed their
nervousness about the Syria conflict Tuesday, pushing down
Milan's top stock exchange along with its European counterparts.
The FTSE-Mib lost 0.28% to close at 16,941 points as
uncertainty continued to roil many European and global markets,
with investors considering the likelihood of US intervention in
Syria and what this might mean for energy prices and the nascent
global economic recovery.
United States President Barack Obama said at the weekend
that he would seek congressional approval for a strike against
Syria, which could seriously disrupt oil supplies.
That seemed to rattle investor confident in equities.
However, on bond markets the spread between Italy's 10-year
bond and its German counterpart continued to narrow, closing at
240 basis points, down slightly from Monday's close of 245 basis
The yield on Italian 10-year paper closed at 4.34%, almost
unchanged from Monday's 4.35%.
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 dropped by 0.77%
to close at 8,180.71 points, while Paris's CAC 40 shed 0.80% to
close at 3,974.07 points, and Spain's IBEX 35 edged up by 0.19%
to 8,445.20 points.
In London, the FTSE index of leading British shares lost
0.58% to close at 6,468.41.

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