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European stock markets fall amid concerns over U.S. economy

Investors worry budget deal won't resolve us fiscal deficit

03 January, 20:01
European stock markets fall amid concerns over U.S. economy (ANSA) - Milan, January 3 - Markets fell across Europe on Thursday amid concerns a recent budget accord reached in the US will fail to address the fiscal deficit of the world's largest economy.

Milan's FTSE MIB index and London's Ftse-100 stock market index bucked the trend.

The yield spread between 10-year Italian bonds and the German benchmark one, a barometer of Italy's borrowing costs in the eurozone crisis, closed at 275 points, the lowest since August 2011. Italian 10-year bond yields were at 4.2%.

The Frankfurt Dax bourse dropped 0.3% at 7,756 , while the Paris Cac 40 Index fell 0.3% to 3,721 points. Madrid's Ibex index declined 0.5% to 8,403 points.

London's Ftse-100 stock market index rose 0.3% to 6,047 points, while Milan's FTSE MIB index gained 0.1% to 16,909 points.

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