Spread drops under 300, bourse up 1.32%

Italians ready to give us a hand says deputy PM

(ANSA) - Milan, October 9 - The Italian-German 10-year bond spread fell below 300 basis points, to 299.4 with a yield of 3.54% and the Milan bourse showed a 1.32% gain after Deputy Premier Matteo Salvini said the government had a few ideas on calming the financial markets.
    The spread had hit 317 points with a 3.7% yield and the bouse was 0.15% down earlier.
    Salvini said he was sure Italians "are ready to give us a hand" and bring down the bond spread by converting their foreign bonds into Italian ones.
    "The strength of Italy, which none of our friends sitting at the table today has, neither the French nor the Spanish, is private saving that has no equal in the world," he said at a G6 meeting in Lyon.
    "For the moment it is silent and is invested in foreign bonds. I am convinced that the Italians are ready to give us a hand".
    The government will not "keep still" if the spread rises further, Salvini said.
    "We have a few ideas," he said in Lyon.
   

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