Arab Today, arab today bond spreads continue to dive after ecb decision
Last Updated : GMT 12:15:14
Arab Today, arab today
Arab Today, arab today

Bond spreads continue to dive after ECB decision

Arab Today, arab today

Arab Today, arab today Bond spreads continue to dive after ECB decision

Rome - ANSA

Markets continued Friday to bask in relief after the European Central Bank\'s decision Thursday to buy bonds in the secondary market. The action was taken to lower the borrowing costs of countries at the centre of the eurozone crisis, such as Spain and Italy. The spread between Italian and German bond rates slid sharply again Friday, closing at 350.8 basis points, down 20 points from Thursday\'s close and 100 points since Monday. The yield Friday on 10-year Italian bonds was 5.024%. The yield on Spanish 10-year bonds sank below 6% Friday for the first time since May to close at 5.57%. Spanish bonds hit a peak interest rate of 7.75% in July, making a eurozone record. The spread between Spanish and German bonds dropped to 405.5 basis points. Milan stocks outperformed other European markets Friday. The Milan FTSE MIB index rose 2.08% to close at 16,110 points, with banks doing particularly well. The troubled Monte Dei Paschi di Siena saw its fortunes take a change for the better. Its stock price rose 10.84% to 0.26 euros. Madrid\'s IBEX (+0.26%), Paris\'s CAC 40 (+0.26%), London\'s FTSE-100 (+0.30%), and Frankfurt\'s DAX (+0.66%) all closed in positive territory.  

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