Milan bourse adds 2.27%, spread closes at 240 points
Telefonica +6.1%, successful bond auction buoys market29 October, 19:14
The premium investors pay to hold Italian paper rather than AAA-graded Bunds, the spread is a key measure of Italy's borrowing costs and of investor confidence in the country's ability to weather the eurozone crisis.
The FTSE Mib Index rose 2.27% to end the day at 19,256 points after the Italian Treasury sold all eight billion euros of six-month bonds offered at auction Tuesday morning at the lowest yield in five months, or 0.629%.
Shares in Telecom roared up 6.1% after Telefonica CEO Cesar Alierta, whose company is taking over Telecom, met with Italian Premier Enrico Letta today.
In Madrid, the IBEX Index added 1.1% to close at 9,844.6 points, while in Frankfurt the DAX Index rose by 0.48% to close at 9.022,04 points. The London stock exchange closed up 0.73% to end the trading day at 6.774,73 points and the Parisian CAC-40 Index added 0.6% to close at 4.278,09 points.