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Italy's leading financial index rises during trading Tuesday

Spread between Italian, German bonds closes at 181.5 basis point

25 March, 19:57
Italy's leading financial index rises during trading Tuesday (ANSA) - Milan, March 25 - Italy's main financial market, like most European exchanges, showed healthy gains Tuesday on the possibility of additional action from the European Central Bank to boost growth.

The FTSE Mib rose by 0.95% to close at 20,823 points while on the Italian bond market, the spread between Italy's benchmark 10-year bond and its ultra-safe German counterpart closed at 181.5 basis points, down slightly from a close of 183 points on Monday.

The yield on Italy's 10-year paper ended Tuesday'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.

Investors were buoyed after Bundesbank President Jens Weidmann, a member of the ECB governing council, suggested that the central bank might consider additional action to support the economic recovery in the eurozone. On other European markets Spain's IBEX 35 rose by 0.78%, closing at 9,990.50 points and Frankfurt's DAX gained 1.63%, closing at 9,338.40 points.

In Paris, the CAC 40 rose by 1.59%, ending trading at 4,344.12 points, while in London, the FTSE index of leading British shares jumped by 1.30%, closing at 6,604.89 points.