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European markets rise on IMF outlook for US growth

Better U.S. forecast likely over budget deal, rising employment

23 December, 19:48
European markets rise on IMF outlook for US growth (ANSA) - Milan, December 23 - Markets surged across Europe on Monday as stocks reacted to expectations that the International Monetary Fund will likely revise its growth outlook for the United States.

IMF Managing Director Christine Lagarde said in an interview with NBC that the agency will increase its US economic growth forecasts amid a budget deal and falling unemployment. The IMF usually releases its forecasts in January.

As a result, Italy's Ftse Mib index gained 0.7% to close at 18,697 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 229 points with Italian 10-year yields at 4.2%.

The Frankfurt Dax bourse rose 0.9% to 9,488 points, while the Paris Cac 40 Index jumped 0.5% to 4,215 points. Madrid's Ibex index advanced 0.7% to 9,758 points and London's Ftse-100 stock market increased 1.1% to 6,678 points.