The Milan Stock Exchange (-0.3%) reduces the initial decline, in line with other European stock exchanges. The banks are improving in Piazza Affari while Saipem slips (-2.4%).
The spread between BTPs and Bunds drops to 141 points, with the yield on the Italian ten-year bond falling by five basis points to 3.86%. S&P's decision on Italy's rating is expected in the evening. (HANDLE) The Milan stock exchange is down by 0.3%. The Milan bond market is up by 5 basis points. The Milan BTP index is up by 0.4%. The BTP yield is up 1.2% on the 10-year Italian bonds. The Italian BTP spread is down 1.3% on a year-on-year basis. The Italian bond yield is down 2.2%. The Italian bond spread is up 2.1% on an annualized basis. The Italian bond yields are up 2% on an annualized basis.