The downgrade of Fitch does not displace the stock exchange and spread

2020-04-29T07:44:30.517Z

Surprisingly, Fitch downgraded Italy's long-term debt rating yesterday evening. The reaction of the starting markets is moderate. Milan is leading the modest rise in European stock exchanges, which already have two widely positive sessions behind them. The main index of Piazza Affari grows by 0.34% in line with London, Frankfurt and Paris. On the Milanese price list still on the Azimut shields, asset management, which marks + 4.70%. Oil-related stocks also performed well with the recovery of the WTI crude oil price at $ 14.30 a barrel, + 25% compared to yesterday. The downgrade of Fitch instead weighs on the spread. The differential with the German Bund widens to 232 basis points, 9 more than yesterday, with the yield of the 10-year BTP at 1.85%.