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Italy bonds, bank stocks fall as EU Commission concludes Rome broke fiscal rules

Published 05/06/2019, 11:49
Updated 05/06/2019, 11:50
Italy bonds, bank stocks fall as EU Commission concludes Rome broke fiscal rules
IT10YT=RR
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FTITLMS3010
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MILAN, June 5 (Reuters) - Italian sovereign bond prices and
bank stocks fell further on Wednesday after the European
Commission concluded that Italy is in breach of EU fiscal rules
because of its growing debt, a situation that justifies the
launch of a disciplinary procedure.
Italian banks .FTIT8300 were down nearly 1.8% to a day low
by 1039 GMT following the news, while the yield on 10-year
government bonds rose five basis points to hit the day's high at
2.575%. IT10YT=RR .
If the European Union states back this assessment in the
next two weeks, the EU executive could subsequently recommend to
start the procedure, a move expected before a meeting of EU
finance ministers in early July.

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