European stocks rise: Milan leads the markets

The main European stock markets closed the session in positive territory, with Milan’s Ftse Mib leading the gains across the Old Continent. The Milan index rose 0.87%, settling at 51,261 points, supported in particular by Inwit, Nexi, Technoprobe and Mps shares, listed among those posting the strongest advances in the session.

The other European markets followed a similar pattern, albeit with varying intensity: Paris’s Cac 40 gained 0.4%, Frankfurt’s Dax 0.8%, London’s Ftse 100 0.4% and Madrid’s Ibex 35 0.7%. A picture of widespread gains, with Milan posting the strongest performance among the markets cited.

On the bond front, the yield on the ten-year German Bund fell to 3.45%, retreating from the seventeen-year highs touched the previous week. The movement in German government bonds accompanies the climate of easing recorded on equity markets on the same day.

The excerpts available do not report the value of the spread between Btp and Bund on today’s session, nor the yield on the Italian ten-year bond: the data provided concerns exclusively the yield on the German Bund and its distance from recent highs. It is therefore not possible, on the basis of the material available, to state a specific trend for the Italian spread in this session. This news currently comes from a single source, MilanoFinanza, and no further independent confirmations of the same data have been found, nor updates on other related indicators, such as the spread between Italian and German government bonds or the level of the Italian ten-year bond.

The day thus closes with a picture of European stock markets oriented upward, driven by Milan and by the banking-technology sector represented by Nexi, Inwit and Technoprobe, while on the German bond market the Bund yield remains under observation after retreating from the previous week’s multi-year highs. In the absence of today’s data, the effects of this movement on government bonds in the eurozone periphery, Italy included, remain to be verified.