Milan bourse closes down 1.74% on weak debt auction
Spread at 318 points
13 March, 19:46
(ANSA) - Milan, March 13 - The Milan bourse lost ground
Wednesday due to a weak 5.32-billion-euro debt auction after
Fitch's credit-rating downgrade lifted Italian 10-year yields to
an intraday high of 4.73%.The spread between Italian and German bonds, a key measure of Italy's borrowing costs and of investor confidence in the country's ability to weather the eurozone crisis, closed at 318 points. Lower-than-expected eurozone industrial production figures also affected the market downward, analysts said.
Milan's FTSE index closed down 1.74% at 15,745 points, with the FTSE All Share index losing 1.61% to close at 16,775 points.
In London, the FTSE-100 index lost 0.45% to close at 6,481.5 points while in Madrid, the Ibex 35 index lost 0.40% to close at 8,498.30 points.
The Parisian CAC-40 index closed down slightly, losing 0.10% to settle at 3,836.04 points, and Franfurt's DAX index closed flat (up 0.06% at 7,970.91 points).
Athens bucked the trend, its Athex index rising 3.39% to close at 973.12 points.
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