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European markets jump on Fed tapering slowdown moves

Decision to slow stimulus boosts investor confidence of recovery

19 December, 19:55
European markets jump on Fed tapering slowdown moves (ANSA) - Milan, December 19 - Markets rose across Europe on Thursday, paced by Milan's FTSE-Mib index, as stocks celebrated the United States Federal Reserve's decision on Wednesday to start unwinding the stimulus that Chairman Ben Bernanke had initiated as measures to help kick-start the economy after the economic crisis. Italy's FTSE-Mib index gained 1.8% to 18,453 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 220 points with 10-year yields at 4.1%.

The Frankfurt Dax bourse gained 1.7% at 9,147, while the Paris Cac 40 Index advanced 1.6 % to 4,177 points. Madrid's Ibex index advanced 2.3% to 9,664 points. London's Ftse-100 stock market was up 1.4% to 6,584 points.