Investing.com - aly saw borrowing costs edge lower at an auction of 10-year government bonds on Wednesday, but concerns over last month's election deadlock remained in focus.
Italy's Treasury sold a total of EUR6.91 billion of government bonds, within the targeted range of EUR5 -7 billion.
Italy auctioned EUR3 billion of 10-year government bonds at an average yield of 4.66%, down from 4.83% at a similar auction last month. The bid-to-cover ratio was 1.22 down from 1.66 at a previous auction.
Rome also sold EUR3.91 billion of a new line of five-year bonds at an average yield of 4.66%.
The euro was trading close to four-month lows against the dollar, with EUR/USD down 0.55% to 1.2788.
European stock markets remained lower. Italy FTSE MIB Index fell 1.5%, the EURO STOXX 50 declined 1.42%, France's CAC 40 lost 1.37%, Germany's DAX was 0.92% lower, while London's FTSE 100 slumped 0.58%.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
