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Milan stocks end day slightly down, shored up by banks

Spread narrows to 211 basis points

29 January, 20:06
Milan stocks end day slightly down, shored up by banks (ANSA) - Milan, January 29 - Nerves reigned supreme on Wednesday on the Milan bourse, but at the end of trading stocks were only in slight decline, in line with other European exchanges. The FTSE-Mib closed down by 0.57% at 19,337 points and the FTSE All Share by 0.54% at 20,545.

The session proved a negative one for Fiat, which ended the day down by 4.11% at 7.23 euros. Banks shored up the listings, with BPM up by 1.2%, Mediobanca by 2%, UBI by 3% and Saipem by 3.5%. At the European level, Madrid ended the day with its index IBEX 35 up by 1.24% to 9,879.1 points, while Frankfurt's DAX was down 0.73, Paris's CAC 40 by 0.68% at 4,157 points, and London by 0.37% at 6,548 points.

The spread between Italian 10-year bonds and their AAA-rated German equivalents, the premium investors pay to hold Italian paper, dropped on Wednesday to 211 basis points from 217 on Tuesday, with a yield of 3.85%.

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