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Spread closes 6 pts down on 222
Tuesday, December 10TH, 2013 by admin
(ANSA) - Rome, December 10 - The spread between Italian 10-year bonds and their AAA-rated German equivalents, the premium investors pay to hold Italian paper, on Tuesday closed six points down on 222 with a 4.05% yield, its lowest since July 2011. A narrower spread indicates greater investor confidence in the Italian economy and Rome's ability to pay down its huge debt. Analysts said the markets were responding to firmer prospects of political stability ahead of a confidence vote in Italy's new right-left government Wednesday. The Milan bourse closed 0.27% down amid mostly slight loses...
(ANSA) - Grosseto, December 10 - A panel of judges in Tuscany granted requests for a new forensic examination of the deadly Costa Concordia wreck, still located where the giant cruiser smashed into a rock formation on Giglio Island off the Tuscan coast on January 13, 2012, in Italy's worst maritime disaster since World War II. The consumer group Codacons and the criminal defence for ex-captain Francesco Schettino had petitioned for the new survey. The magistrates ruled that new evidence collection was warranted because significant areas of the ship have been made accessible by a September...
Colosseum vending smartphone tickets
Tuesday, December 10TH, 2013 by admin
(ANSA) - Rome, December 10 - Tickets to the Colosseum are going digital, allowing visitors to skip the lines with their smartphones. Starting Wednesday, the 8,000 average visitors who line up outside the Flavian Amphitheatre won't need cash or even a physical ticket, just a credit card in exchange for a scanable barcode. Organizers say the move will be especially helpful on high-density days when up to 24,000 visitors descend on the Colosseum, Italy's most frequented monument. A service fee of one euro is added to the new e-ticket.
(ANSA) - Turin, December 10 - Disgraced Fonsai insurance magnate Salvatore Ligresti was released from house arrest Tuesday. Ligresti and company officials, including family members, are accused of corruption in the probe into alleged accounting fraud and market manipulation at the troubled Italian insurance group. A trial beginning this month surrounds accusations that accounting irregularities enabled Ligresti to acquire illegal dividends of 200 million euros. The next hearing is scheduled Friday.
(ANSA) - Palermo, December 10 - Italian police on Tuesday arrested eight people accused of running protection rackets in Palermo. In one case, police said, the gang "savagely beat" a hold-out businessman with a builder's mallet. The eight, including a minor, are accused of racketeering, attempted murder, extortion and other crimes.
Italian spread dips to lowest level since 2011
Tuesday, December 10TH, 2013 by admin
(ANSA) - Rome, December 10 - The spread between Italy's 10-year BTP bond and the German benchmark briefly dropped to its lowest level since July 2011 on Tuesday. The spread, a key measure of Italy's borrowing costs and of investor confidence, dropped to 226 basis points after closing trading Tuesday at 228. It subsequently climbed back up to 228 points with a yield of 4.11%. Italy risked enduring a Greek-style financial meltdown in 2011, when the rate on the 10-year-bond peaked at over 7%, with the spread between it and the German benchmark above 500 points. That crisis caused ex-premier...
(ANSA) - Rome, December 10 - Italy's industrial production data for October provided hope Tuesday that the country may be emerging from its longest recession in over two decades. National statistics agency Istat said production was up 0.5% in October with respect to September. Output was 0.5% lower in October than in the same month in 2012, the 26th consecutive year-on-year fall. But this was still relatively good as it represented the smallest year-on-year drop since August 2011. Italy entered the current recession in the third quarter of 2011.
(ANSA) - Milan, December 9 - The juvenile section of the Milan Appeals Court has sentenced Remi Nikolic to nine years and eight months of detention for killing a policeman in January 2012. Nikolic was driving an off-road vehicle when he slammed into the 42-year-old Niccolo' Savarino on patrol duty, killing him and dragging his body for some 200 metres. The young man from the Roma community had not yet reached the age of 18 at the time of the crime. In March he was sentenced to 15 years in jail. The prosecution had initially requested a 26-year sentence. The appeals court decided to take...
Spread closes 5 pts down on 228
Monday, December 09TH, 2013 by admin
(ANSA) - Rome, December 9 - Italian financial markets on Monday appeared to welcome the election of business-friendly Florence Mayor Matteo Renzi as new leader of the country's largest political force, the centre-left Democratic Party (PD). The spread between Italian 10-year bonds and their AAA-rated German equivalents, the premium investors pay to hold Italian paper, closed five points down on 228 with a 4.13% yield. A narrower spread indicates greater investor confidence in the Italian economy and Rome's ability to pay down its huge debt. The Milan bourse closed 0.89% up as investors...
Spread closes 3 pts down on 230
Monday, December 09TH, 2013 by admin
(ANSA) - Rome, December 9 - Italian financial markets on Monday appeared to welcome the election of business-friendly Florence Mayor Matteo Renzi as new leader of the country's largest political force, the centre-left Democratic Party (PD). The spread between Italian 10-year bonds and their AAA-rated German equivalents, the premium investors pay to hold Italian paper, closed three points down on 230 with a 4.14% yield. A narrower spread indicates greater investor confidence in the Italian economy and Rome's ability to pay down its huge debt. The Milan bourse closed 0.89% up as investors...

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