Italy paid 6.98 percent on a 10-year bond auction where it raised $3.3 billion. That’s lower than the 7.56 percent it had to pay at an equivalent auction last month, but not low enough to assuage investors. Italy’s new premier said his government has more to do before it convinces financial markets it can manage the heavy debts that have made it the focus of the euro zone crisis.
In other corporate news:
• Chesapeake Midstream Partners rose 5 percent after the natural gas systems operator agreed to acquire Chesapeake Energy Corp.’s pipeline business.
• Hill International Inc. rose 3 percent after the construction management company was awarded a $3.3 million contract to build a new stadium in Iraq.
• Sears Holdings Corp. fell 1 percent as investors worried over the fate of the retailer, two days after it said it was closing over 100 stores nationwide.