×
For more information, get in touch with our team:
+44 7918 53 08 73
Hint mode is switched on Switch off
DATA PLATFORM FOR FINANCIAL MARKET PROFESSIONALS AND INVESTORS
  • High performance interface for global bond market screening
  • Full information on close to 500,000 bonds from 180 countries
  • 100% coverage of Eurobonds worldwide
  • Over 300 primary sources of prices
  • Ratings data from all international and local ratings agencies
  • Stock market data from 100 world trading floors
  • Intuitive, high speed user interface
  • Data access via the website, mobile application and add-in for Microsoft Excel

European markets rally on good news from U.S., Greece

November 20, 2012 Ansa
Italian financial markets joined the European rally Monday amid optimistic signs that the United States may avoid its fiscal cliff, as well as rumours of more aid for troubled Greece.

Talks between leaders of both parties in the US towards resolving a budget crisis appeared positive, soothing financial markets around the world. Meanwhile, Greece appeared to have met the necessary conditions for release of its next aid payment. In Milan, the FTSE MIB jumped by 3.05%, to close at 15,308.96 points while the AllShare gained 2.9% to end the day's trading at 16,166.98.

The bond market also rallied Monday.

The spread between Italy's 10-year bond and the German benchmark equivalent closed at a moderate 354 basis points, with a yield on Italian paper of 4.90%.

The spread measures investor confidence in the Italian economy when compared with that of powerhouse Germany.

Investors were encouraged by news that US President Barack Obama and leaders in congress are negotiating to head off tax increases and mandatory government spending cuts that are set to take effect on January 1, 2013.

It's feared that if those cuts and increases go ahead, it could push the US into another recession.

Markets were also buoyed after the Greek government on Monday presented emergency legislation to help finalize its austerity commitments to bailout creditors.

The legislation, covering spending cuts and reforms, come one day before European finance ministers will decide whether to release the next 31.5-billion euro loan installment for Greece.

That should fulfill the conditions previously set by lenders.

In Frankfurt the DAX gained 2.49% to close trading at 7,123.84 points while on the London Stock Exchange, the FTSE 100 index jumped by 2.36% to 5,737.66 points.

Madrid's Ibex 35 index rose by 2.34% to close at 7,765.70 points and in Paris, the Cac 40 index rose by a dramatic 2.93% to end the day at 3,439.58 points.