Spreads up in Spain and Italy, markets slip across Europe

Fitch 'cautious' about Spanish banks bailout

Spreads up in Spain and Italy, markets slip across Europe

(ANSA) - Rome, August 10 - Italian and Spanish bonds came under renewed pressure Friday as their spreads between the German benchmark widened on the day. The spread between Italian 10-year bonds and the German bund rose to 450 basis points. The yield, an important indicator of investor confidence in Italy's ability to weather the debt crisis, was 5.88%. The Spanish spread closed at 546.2 points. Earlier in the day New York-based ratings agency Fitch said it was "cautious" about a recent European bailout to Spain's troubled banks, sending an uninspiring signal to international investors. Markets were down across Europe. The Milan bourse closed down 0.72% at 14,548 points and the Ftse All Share lost 0.60% to end the week at 15,485. Madrid's IBEX index lost 1.13%, closing at 7,029 points. Frankfurt's DAX index was down 0.21% to close at 6,950. Paris lost 0.48% on its CAC 40 index, which closed at 3,440. The London bourse was virtually static at 5,847.37 points, down 0.07% on the day.

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