April 5, 2012 / 10:24 AM / 5 years ago

EURO GOVT-Spanish, Italian default insurance costs rise

LONDON, April 5 (Reuters) - The cost of insuring against a Spanish or Italian default rose on Thursday after doubts over Spain's ability to meet budget targets hit investor demand at debt auctions, rekindling funding concerns for lower-rated euro zone states.

Spanish five-year credit default swaps were quoted at 476 basis points by Markit, 18 basis points higher on the day.

The Italian equivalent was 25 basis points higher at 424 basis points.

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