Martedì, 23 Ottobre 2018

Spread rises further as M5S, League close in on govt deal


Rome, May 17 - The spread between Italy's 10-year
BTP bond and the German Bund rose further on Thursday,
approaching the 160-basis-points mark.
The yield went up 2.18% for a spread of 158 points.
The spread, an important measure of investor confidence,
climbed sharply on Wednesday and the bourse lost 2.32% amid
market fears the next government will enact populist anti-EU
It initially dropped back after the opening of trading on
Thursday but soon started rising again.
The Milan stock exchange's FTSE Mib index opened 1%, climbing
close to the 24,000 points mark, after the 5-Star Movement (M5S)
and the League said they had reached an agreement on a
government programme and were now working to identify the
premier of the new executive.
The market soon lost much of those gains though, and the rise
was down to +0.4%, at 23,834 points, after about an hour and a
half of trading.
The M5S said the programme they had agreed on with the League
did not include the hypothesis of a referendum on the euro,
something which had featured in the an earlier draft that was
leaked to the press.

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