Italy’s leading financial index slips by 0.21% on day
(ANSA) – Milan, November 20 – Italy’s leading financial index weakened on Wednesday as investors watched and waited for the latest news from the United States Federal Reserve.
The FTSE Mib ended the trading day 0.21% lower at 18,728 points as markets waited for the publication of the minutes of the most recent meeting of the Fed.
Many are watching for clues as to whether the American central bank is preparing to reduce monetary stimulus and if so, when.
Little changed in the Italian bond market with a continued narrow spread between Italy’s benchmark 10-year bond and its ultra-safe German counterpart.
The spread closed at 236 basis points, essentially unchanged from Tuesday’s close, with the yield on Italy’s 10-year paper ending trading at 4.07%.
The spread between lending rates in the two countries is an important indication of investor faith in the Italian economy.
On other European markets, Spain’s IBEX 35 shed 0.73% to close at 9,559.50 points and Frankfurt’s DAX gained 0.10%, closing at 9,202.07 points.
In Paris, the CAC 40 fell by 0.09%, ending trading at 4,268.37 points, while in London the FTSE index of leading British shares fell by 0.25% on the day, closing at 6,681.08 points.