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Milan bourse suffers big losses, bond yield soars

Tension on money markets throughout Europe

(ANSA) - ROME, SEP 29 - The Milan stock exchange suffered big losses on Thursday amid high tension on Europe's money markets following alarming German inflation data.
    The FTSE Mib index closed 2.4% down on 20,352 points, the lowest level since November 2020.
    Among the stocks to take the biggest hits were Stellantis, down 3.9%, Bper (-3.2%), Nexi (-3.2%), Tim (-3.2%), Pirelli (-3.2%), Moncler (-3.1%) and Stm (-3.1%).
    The yield on Italy's 10-year BTP bond, meanwhile, climbed sharply, rising to 4,7% at one stage before dropping back to 4.64%.
    The yield closed at 4.5% on Wednesday.
    The spread between the 10-year BTP and the German Bund was up two basis points to 241. (ANSA).


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