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European markets slump amid emerging-market currency fear

Italian index loses 2.3%

24 January, 19:54
European markets slump amid emerging-market currency fear (ANSA) - Milan, January 24 - Markets declined across Europe on Friday, paced by Milan's FTSE MIB index, as stocks reacted to the worst sell-off of emerging-market currencies in half a decade. Italy's Ftse Mib index closed down 2.3% to 19,358 points. The yield spread between 10-year Italian bonds and the German benchmark equivalent, a barometer of Italy's borrowing costs, closed at 225 points with 10-year yields at 3.9%.

The Frankfurt Dax bourse dropped 2.5% to 9,392, while the Paris Cac 40 index fell 2.8% to 4,161 points. Madrid's Ibex index declined 3.6% to 9,868 points and London's Ftse-100 stock market decreased 1.6% to 6,663 points.

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