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Spread closes three points up at 213

Milan bourse leads Europe in losses

03 February, 18:14
Spread closes three points up at 213 (ANSA) - Rome, February 3 - The spread between Italian 10-year bonds and their AAA-rated German equivalents, the premium investors pay to hold Italian paper, closed at 213 Monday, up from 210 Friday, keeping close to its lowest since Italy risked sparking a euro crisis in late 2011.

The yield was 3.77%, up from 3.76% Friday.

A narrower spread indicates greater investor confidence in the Italian economy and Rome's ability to pay down its huge debt.

European markets posted mostly losses, with Milan leading the way down on poorer-than-expected US economic manufacturing figures and fears on global growth. . The Milan bourse closed 2.63% down as banking stocks weakened again.

London was 0.69% down, Frankfurt 1.29% down, Paris 1.39% down and Madrid 1.96% down.

Athens bucked the trend again with a 2.65% gain.