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European markets up, led higher by Milan bourse

Investors recovering after concern over Ukrainian crisis

04 March, 20:09
European markets up, led higher by Milan bourse (ANSA) - Milan, March 4 - European stock markets closed sharply higher on Tuesday, led by the Milan bourse, after Russian President Vladimir Putin stated he would only use force in the crisis with Ukraine as a last resort.

Reversing a 3.34% drop Monday over the Ukrainian crisis, Milan's FTSE-Mib was up 3.26% to end the trading day at 20,475 points.

The Frankfurt Dax bourse was up 2.46% to 9,589.15 points while London's FTSE-100 was up 1.72% to 6,823.77 points.

Paris's CAC 40 gained 2.45% to 4,395.90 points and Madrid's Ibex index was up 2.51% to 10,126.70.

The spread between Italy's 10-year paper and the ultra-safe German equivalent closed at 182 basis points, with an interest rate of 3.42% - its lowest level since the end of 2005.