Martedì, 16 Ottobre 2018
MILAN

Italy-German spread widens to 250 points

English
© ANSA

Milan, September 5 - Investors grabbed at a glimmer
of good news in cautious comments from the European Central Bank
Thursday, lifting Milan's leading stock exchange along with most
other European financial markets.
The FTSE-Mib climbed by 0.78% to close at 16,842 points,
partly boosted by a jump of about 8.4% by the value of Telecom
Italia following reports that several investors including
Egyptian businessman Naguib Sawiris may be interested in buying
shares in the company.
But the general lift in market sentiment came as ECB
President Mario Draghi marginally improved his forecast for
eurozone output this year, saying the bank now expects output to
shrunk only 0.4% in 2013 rather than the 0.6% contraction
previously forecast in June.
And while the central bank held its key lending rate
unchanged at 0.5%, Draghi also warned that the central bank was
reducing its forecast for next year to 1% from the previous 1.1%
expected for 2014.
Bond markets were stable on the news as the spread between
Italy's 10-year bond and its German counterpart widened to 250
basis points, only slightly more than Wednesday's close of 248
basis points.
The yield on Italian 10-year paper closed at 4.54%.
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 0.48% to
close at 8,234.98 points, while Paris's CAC 40 gained 0.66% to
close at 4,006.80 points, and Spain's IBEX 35 climbed by 0.70%
to 8,550 points.
In London, the FTSE index of leading British shares gained
0.89% to close at 6,532.44.

© Riproduzione riservata

* Campi obbligatori

Immagine non superiore a 5Mb (Formati permessi: JPG, JPEG, PNG)
Video non superiore a 10Mb (Formati permessi: MP4, MOV, M4V)

X
ACCEDI

Accedi con il tuo account Facebook

Login con

Login con Facebook
  • Seguici su
X