Spanish and Italian government bonds declined, pushing the yield on Spain’s 10-year bond up four basis points to 5.27 percent at 7:38 a.m. London time.

The rate on similar-maturity Italian bonds climbed three basis points, or 0.03 percentage point, to 4.35 percent.

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

To contact the editor responsible for this story: Paul Dobson at pdobson2@bloomberg.net