Italy slides as other European markets hold their own

Spread between Italian and German bonds remains stable

Italy slides as other European markets hold their own

Rome, October 25 - Italy's financial markets were among the weakest in Europe Thursday, as investors continued to fret about poor corporate earnings. In Milan, the FTSE Mib fell by 1.13% to end trading at 15,528.47 points while the FTSE Italia All-share lost 0.99% to close the day at 16,436.39 points. However, the spread between Italy's benchmark 10-year bond and the German Bund remained stable, closing at 328 basis points with a yield of 4.86%. The spread is a good indicator of how investors view Italy's long-term economic prospects, when compared with those of Germany. Meanwhile, other European markets fared much better in trading, seizing on good economic news including a better-than-expected report on growth in the United Kingdom. Economic news from the United States was also positive, with a rebound reported in durable goods orders and a decline in weekly jobless claims. Investors also seemed optimistic that Greece would soon receive the bailout package it needs to combat economic and financial instability there. Frankfurt's Stock Exchange closed in positive territory as the DAX index gained 0.10% to close at 7,200.23 points. In London, the FTSE-100 index was unchanged on the day, closing at 5,805.05 points while in Madrid, the Ibex slid 0.16% to 7,779.20 points, and Paris's Cac 40 index lost 0.44% to close at 3,411.53 points.

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