Milan stock market shrugs off downgrades

FTSE Mib index up 0.5% in early trading

Milan stock market shrugs off downgrades

(see related story) (ANSA) - Milan, July 17 - The Milan stock exchange shrugged off Moody's decision to downgrade a number of Italian banks and local authorities in early trading on Tuesday, when its benchmark FTSE Mib index gained 0.5%. After being hit by the IMF's low global growth forecasts on Monday, the international money markets on Tuesday seemed encouraged by hopes of measures to stimulate the world economy.

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