European stocks edge higher helped by key services index
Milan recoups Monday losses, closing up 1.05% as banks rise05 February, 19:29
The Purchasing Managers' Index for eurozone services was revised upwards to 48.6 for January from 48.3, the third consecutive month of improvement and the highest since last March.
Milan's FTSE-Mib ended the day up 1.05% at 16,712.26, partly recovering from Monday's heavy losses, helped by shares in banks UniCredit, up 2.54%, and Intesa Sanpaolo, up 2.10%, as well as by a rebound at troubled lender MPS, up 3.22%.
Energy stocks also posted gains in Milan on Tuesday, with Snam up 2.23% and controlling shareholder Eni up 2.01%.
Other main European markets also ended the day higher, with Spain's IBEX 35 leading the way, up 2.2% at 8,093.60, followed by Paris' CAC 40, up 0.95% at 3,694.70), London's FTSE 100, up 0.58% at 6,282.76 and Frankfurt's DAX, up 0.35% at 7,664.66.
The spread between Italy's 10-year paper and its German counterpart narrowed Tuesday, closing at 280 basis points compared with Monday's 284.8-point close.