RPT-Italy bonds, European stocks rise after Italy sale

Wed Feb 27, 2013 5:31am EST

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.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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