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Italy's leading financial index rises during trading Tuesday

Spread between Italian, German bonds steady at 200 basis points

11 February, 20:01
Italy's leading financial index rises during trading Tuesday (ANSA) - Milan, February 11 - Italy's leading financial index joined most other European markets to show healthy gains Tuesday, after encouraging news from the United States.

The FTSE Mib ended the trading day significantly higher, rising by 1.04% to close at 19,887 points, as markets drew comfort from the first public comments by the new United States Federal Reserve head Janet Yellen.

She reassured markets of a continuity in the Fed's monetary policy as she takes over its leadership from former Fed chairman Ben Bernanke.

On the Italian bond market, the spread between Italy's benchmark 10-year bond and its ultra-safe German counterpart closed at 200 basis points with the yield on Italy's 10-year paper ending trading at 3.68%.

The spread between lending rates in the two countries is an important indication of investor faith in the Italian economy.

On other European markets, Spain's IBEX 35 rose by 1.09%, closing at 10,091.20 and Frankfurt's DAX jumped by 2.03%, closing at 9,478.77 points.

In Paris, the CAC 40 gained 1.09%, ending trading at 4,283.32 points, while in London, the FTSE index of leading British shares jumped by 1.23% on the day, closing at 6,672.66.