European markets fall on German manufacturing contraction
Stocks also hurt by EU bailout for Cyprus banks uncertainty
21 March, 19:48
(ANSA) - Milan, March 21 - Markets fell across Europe on
Thursday, paced by Milan’s FTSE MIB index, after a German
manufacturing report showed production in the eurozone's largest
economy contracted.
Stocks also fell amid undertainty relating to a European
Union bailout plan for Cypriot banks.Italy's Ftse Mib index fell 0.5% to 16,000 points. The yield spread between 10-year Italian bonds and the German benchmark equivalent, a barometer of Italy's borrowing costs in the eurozone crisis, closed at 322 points with 10-year yields at 4.6%.
The Frankfurt Dax bourse closed down 0.9% at 7,989 points, while the Paris Cac 40 Index dropped 1.4% to 3,774 points. Madrid's Ibex index dropped 0.8% to 8,351 points. London's Ftse-100 stock market fell 0.7% to 6,388 points.
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