UK markets close in 5 hours 51 minutes
  • FTSE 100

    5,843.61
    -16.67 (-0.28%)
     
  • FTSE 250

    18,088.19
    -21.38 (-0.12%)
     
  • AIM

    983.32
    +2.87 (+0.29%)
     
  • GBP/EUR

    1.1053
    +0.0062 (+0.57%)
     
  • GBP/USD

    1.3065
    +0.0027 (+0.20%)
     
  • BTC-GBP

    10,009.29
    -9.15 (-0.09%)
     
  • CMC Crypto 200

    262.42
    +0.96 (+0.37%)
     
  • S&P 500

    3,465.39
    +11.90 (+0.34%)
     
  • DOW

    28,335.57
    -28.13 (-0.10%)
     
  • CRUDE OIL

    38.99
    -0.86 (-2.16%)
     
  • GOLD FUTURES

    1,903.90
    -1.30 (-0.07%)
     
  • NIKKEI 225

    23,494.34
    -22.25 (-0.09%)
     
  • HANG SENG

    24,918.78
    +132.68 (+0.54%)
     
  • DAX

    12,383.01
    -262.74 (-2.08%)
     
  • CAC 40

    4,883.19
    -26.45 (-0.54%)
     

ECB cuts Italian, Spanish debt purchases as markets hold nerve

·1-min read
FILE PHOTO: ECB headquarters in Frankfurt
FILE PHOTO: ECB headquarters in Frankfurt

FRANKFURT (Reuters) - The European Central Bank bought less Italian and Spanish government debt in the past two months as market pressure on both indebted countries stayed low despite a resurgence of COVID-19 cases, data showed on Monday.

The ECB bought 26.8 billion euros of Italian public-sector bonds and 18.7 billion euros of Spanish government debt through its stimulus programmes in August and September, the data showed.

That was slightly more than their quotas, but the deviation from was smaller than during the spring, when a surge in borrowing costs had forced the ECB to the rescue of the two struggling countries.

Italy was the euro zone country where the first wave of the pandemic took the heaviest toll. It was later overtaken by Spain, which currently counts 32,086 coronavirus fatalities and 789,932 confirmed cases - the worst in Western Europe.

In total, the ECB bought 126.8 billion euros worth of state debt under its Pandemic Emergency Purchase Programme in the past two months, plus 38.3 billion euros under its regular Public Sector Purchase Programme.

(Reporting By Francesco Canepa, editing by Larry King)