Dec. 14 (Bloomberg) -- Italian five-year notes extended their gains as the nation prepared to sell as much as 3 billion euros ($3.9 billion) of the securities.

Five-year Italian yields fell 10 basis points to 6.69 percent at 9:45 a.m. in London, after climbing as much as 12 basis points to 6.91 percent earlier.

Two-year notes also gained, pushing the yield down two basis points to 5.64 percent.

To contact the reporter on this story: Emma Charlton in London at echarlton1@bloomberg.net

To contact the editor responsible for this story: Daniel Tilles at dtilles@bloomberg.net