Investing.com - Italy saw borrowing costs rise to the highest level since mid-July at an auction of three-year government bonds on Thursday, as fears over the handling of the euro zone's financial crisis continued to dominate market sentiment.
Italy’s Treasury sold EUR3.75 billion worth of three-year government bonds at an average yield of 2.86% earlier in the day, up from 2.75% at a similar auction last month.
Demand strengthened slightly, with bids exceeding supply 1.67 times, compared to a “bid-to-cover” ratio of 1.49 last month.
The yield on Italian 10-year bonds stood at 5.09% following the auction.
Meanwhile, the euro held on to gains against the U.S. dollar, with EUR/USD adding 0.14% to trade at 1.2893.
European stock markets remained mixed. Italy FTSE MIB Index fell 0.5%, the EURO STOXX 50 rose 0.25%, France’s CAC 40 added 0.35%, Germany's DAX climbed 0.65%, while London’s FTSE 100 eased up 0.4%.
Italy’s Treasury sold EUR3.75 billion worth of three-year government bonds at an average yield of 2.86% earlier in the day, up from 2.75% at a similar auction last month.
Demand strengthened slightly, with bids exceeding supply 1.67 times, compared to a “bid-to-cover” ratio of 1.49 last month.
The yield on Italian 10-year bonds stood at 5.09% following the auction.
Meanwhile, the euro held on to gains against the U.S. dollar, with EUR/USD adding 0.14% to trade at 1.2893.
European stock markets remained mixed. Italy FTSE MIB Index fell 0.5%, the EURO STOXX 50 rose 0.25%, France’s CAC 40 added 0.35%, Germany's DAX climbed 0.65%, while London’s FTSE 100 eased up 0.4%.