Rome

Italian spread drops despite Berlusconi sentence

At one point reached lowest level since early June

Italian spread drops despite Berlusconi sentence

Rome, August 2 - The spread between the 10-year Italian bond and the German benchmark fell in early trading on Friday, with investors apparently not worried about any imminent political consequences from the supreme court's decision to uphold Silvio Berlusconi's tax-fraud conviction. The spread, a key indicator of investor confidence, fell to 265 basis points with a yield of 4.33%, down from 269 at Thursday's closure. At one point on Friday the spread dropped to 263 points, its lowest level since early June.

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