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BCN-22
MARKETS-EUROPE-OPEN
European stocks rally at open
LONDON, Oct 22, 2018 (BSS/AFP) – European stock markets rallied at the
start of trading on Monday, with Milan up nearly 2.0 percent despite Moody’s
cutting Italy’s credit rating on high debt concerns.
London’s benchmark FTSE 100 index grew 0.4 percent to 7,081.06 points
compared with the close on Friday.
In the eurozone, Frankfurt’s DAX 30 index jumped 1.0 percent to 11,665.68
points and the Paris CAC 40 won 0.9 percent to 5,130.29.
The Milan FTSE MIB index surged 1.8 percent to 19,428 points, despite
Moody’s ratings agency on Friday downgrading Italy on concerns about its
populist government’s plans to increase public spending, a move heavily
criticised by the European Union.
The downgrade — from Baa2 to Baa3 with a stable outlook — is the latest
move by international financial watchdogs sounding the alarm over Italy’s
economic health.
BSS/AFP/HR/1335