Milan

Btp-Bund bond spread closes at 276 points

Milan, European stock markets perform poorly

Btp-Bund bond spread closes at 276 points

Milan, February 14 - The yield spread between Italian 10-year bonds and the benchmark German equivalent stood at 276 basis points at the close of Thursday trading, a slight rise over the opening differential of 272 points. The final yield was 4.4% compared to 4.39% at the start of trading. The Milan stock market closed down 1% at 16,544 points on its main FTSE MIB index. Private television company Mediaset owned by ex-premier Silvio Berlusconi performed particularly badly, dropping 3.18% to close at 1.85 euros after market research company Nielsen said 2012 had been the worst year for advertising in Italy in the last 20 years. Energy company Eni, public utility A2A and automaker Fiat also posted losses, while defense and aerospace giant Finmeccanica continued its downward trend following Tuesday's arrest of CEO Giuseppe Orsi in connection with an international corruption probe relating to the sale of helicopters to India. The main European exchanges also performed negatively on Thursday, with London's FTSE 100 index down 0.5% to 6,327.36 points, Paris' Cac 40 index down 0.78% to 3,669.60 points, Frankfurt's Dax index down 1.05% to 7,631.19 points and Madrid's Ibex 35 index down 0.71% to 8,247.40 points. The only bourse to buck the trend was Athens, which closed up 0.48% at 1,032.43 points.

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