European stocks edge higher helped by key services index
Milan recoups Monday losses, closing up 1.05% as banks rise
05 February, 19:29
(ANSA) - Milan, February 5 - European markets ended the day
higher after a key indicator of economic performance showed
improvement and worries over a political scandal in Spain and an
inconclusive upcoming election in Italy waned.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.
Brochure: 
