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Italy's leading financial index rises during trading Tuesday

Spread between Italian, German bonds closes at 175 basis points

11 March, 19:54
Italy's leading financial index rises during trading Tuesday (ANSA) - Milan, March 11 - Italy's main financial index led most other European markets Tuesday, showing small gains after economic reports showed that the struggling Italian economy returned to growth in the fourth quarter of 2013.

The FTSE Mib ended the trading day higher, rising by 0.39% to close at 20,833 points after national statistical agency Istat confirmed that Italy's economy grew slightly - about 0.1% - in the final quarter of last year compared with the previous quarter, proving a harsh two-year recession is over.

On the Italian bond market, the spread between Italy's benchmark 10-year bond and its ultra-safe German counterpart closed at 175 basis points, with the yield on Italy's 10-year paper ending trading at 3.39%.

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 fell by 0.31%, closing at 10,071 points and Frankfurt's DAX jumped by 0.46%, closing at 9,307.79 points.

In Paris, the CAC 40 fell by 0.48%, ending trading at 4,349.72 points, while in London, the FTSE index of leading British shares was unchanged on the day, closing at 6,685.52 points.