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Europe markets fall as Draghi throws cold water on recovery

Milan bucks trend, Mediaset gains on Digital Plus speculation

09 January, 19:50
Europe markets fall as Draghi throws cold water on recovery (ANSA) - Milan, January 9 - Markets slumped across Europe on Thursday as stocks reacted to European Central Bank President Mario Draghi's warning that the economy is not out of the woods yet.

The ECB chief indicated the region's central bank planned to keep interest rates low, saying that it was too soon to say whether euro region economies were out of danger.

Milan's Ftse-Mib index bucked the general trend, gaining 0.3% to 19,503 points.

The index was lifted also by a 3.5% gain in media company Mediaset, amid speculation of a possible joint venture with Spain's Digital Plus.

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 200 points with 10-year yields at 3.9%.

The Frankfurt Dax bourse fell 0.8% to 9,421, while the Paris Cac 40 index slumped 0.4% to 4,225 points. Madrid's Ibex index fell 0.2% to 10,234 points. London's Ftse-100 stock market closed down 0.5% to 6,691 points.