(ANSA) - Rome, October 22 - The spread between Italy's
10-year BTP bond and the German Bund opened on 289 basis points
on Monday, a big fall from Friday's closing value of 301.
The yield on the BTP was 3.35%.
The Milan stock exchange's FTSE Mib index, meanwhile, gained
1.15% in early trading, lifting it to 19.294 points.
Investors do not appear spooked by Moody's announcement on
Friday that it has downgraded Italy's credit rating to Baa3,
with a stable outlook, citing concerns about the government's
budget plans, which feature allowing the deficit up to 2.4% to
rise to 2.4% of GDP next year.
Analysts said investors were relieved that the rating was not
taken down to junk status and the outlook was put at stable.
Spread down, Milan bourse up
Investors don't seem spooked by Moody's downgrade