Italy Boosts European Markets
Monday,
22-Oct-2018
03:37 PM (IST)
European markets kicked the week off with gains after Moody's kept Italy's sovereign rating stable instead of cutting it to negative.That helped calm investor anxiety as it was seen reducing the likelihood of a further downgrade to junk status for now.Italy's FTSE MIB index was up around 1% in mid-morning trade, with lenders such as Unicredit and Intesa Sanpaolo faring the best.Elsewhere across the continent, nearly all of the region's major bourses also enjoyed healthy gains, following three straight days of losses, with most sectors in positive territory.Germany's DAX rose by around 0.6%, while the UK's FTSE tacked on 0.5%.
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