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Italy's leading financial index rises in trading Wednesday

Spread between Italian, German bonds closes at 179 basis points

19 March, 19:52
Italy's leading financial index rises in trading Wednesday (ANSA) - Milan, March 19 - Italy's main financial market closed lower on Wednesday amid continued tensions over the crisis in Ukraine and concerns about remarks from the United States Federal Reserve on its future policy, which came after European markets closed.

The FTSE Mib fell by 0.29% to close at 20,976 points while on the Italian bond market, the spread between Italy's benchmark 10-year bond and its ultra-safe German counterpart closed at 179 basis points.

The yield on Italy's 10-year paper ended Wednesday's trading at 3.39%.

The spread between lending rates in the two countries is an important indication of investor faith in the Italian economy.

After markets closed, the US Fed confirmed its plan to keep short-term interest rates low to help support the economy.

The Fed also said it would cut its monthly long-term bond purchases since it judges the American economy sufficiently strong. On other European markets Spain's IBEX 35 rose by 0.42%, closing at 10,093.30 points and Frankfurt's DAX gained 0.37%, closing at 9,277.05 points.

In Paris, the CAC 40 fell by 0.12%, ending trading at 4,308.06 points, while in London, the FTSE index of leading British shares shed 049%, closing at 6,573.13 points.