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RPT-Italy bonds, European stocks rise after Italy sale

Source : REUTERS
Last Updated: Wed, Feb 27, 2013 12:00 hrs

LONDON, Feb 27 (Reuters) - Italian debt prices and European stocks briefly rose on Wednesday after Italy sold the maximum amount of bonds it planned to offer in a debt auction though borrowing costs soared.

German Bund futures initially fell before recouping losses while the euro slipped as traders parsed details of the auction which was the first test of investor demand for the country's debt after inconclusive weekend elections spooked financial markets.

Italian 10-year yields fell 7 basis points to 4.83 percent while the Bund future was last 25 ticks up on the day at 145.15 after the sale.

The euro fell to $1.3098 from a session high of $1.3123 hit just before the results to the Italian bond auction were announced.




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