Italian financial markets open trading on a weak note

Spread between Italian, German bonds stable

Italian financial markets open trading on a weak note

Milan, October 22 - Italy's financial markets opened on a weak note Monday as investors registered concerns about corporate profits and economic growth around the globe. Milan's FTSE Mib index opened trading 0.04% lower at 15,848 points, although by late morning it showed a slight recovery, rising by 0.46% to 15,935 points. Still, the lacklustre showing reflected a weak trend across Europe. London's FTSE 100 began the week 0.26% lower, while Frankfurt's DAX was down 0.16% and in Paris, the CAC was 0.25% lower. Investors fear that disappointing corporate earnings reported last week in the United States will be repeated in Europe this week. However, the spread between the 10-year Italian bond and the German Bund was stable in early trading, at around 318 basis points with a yield is 4.76%. The spread is an indicator of confidence in Italy's ability to service its huge national debt.

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