Spread closes on 162 after Greek No

(ANSA) - Rome, July 6 - The spread between Italy's 10-year BTP State bond and the German benchmark rose sharply in trading on Monday after Greece's No vote to creditors' proposals in Sunday's referendum. The spread shot up to 165 basis points at the opening of trading, from 145 at Friday's closing, before dropping back to 162 points with a yield of 2.38% at the close.
    The spread is a measure of market confidence in Italy's ability to withstand ripple effects from the Greek debt crisis.