UPDATE 1-Fiat bonds, protection costs rise on rescue plan

Newswire

(Adds byline, recasts with analyst comments) By Richard Barley and Kirsten Donovan LONDON, June 26 (Reuters) - Fiat's short-dated bonds rose in value after the group announced a rescue plan on Thursday, but insurance against default became more expensive as analysts said there were still questions over the group's future. Traders quoted five-year credit default swaps on Fiat bid at 650 basis points, up around 100 basis points from Wednesday, meaning it now costs 650,000 euros a year to ...

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