Milan

European stocks fall on IMF global-growth warning

Lagarde warns of concern over Europe, U.S

European stocks fall on IMF global-growth warning

(ANSA) - Milan, October 12 - Markets slumped across Europe on Friday after the International Monetary Fund warned that nascent economic growth was not enough to counter the negative effects of unemployment. The comments were made by IMF Director Christine Lagarde in an interview with the BBC in Japan. Economic growth in industrialized nations is "tepid", Lagarde said, pointing to the US and Europe as areas of major uncertainty. Italy's Ftse Mib index fell 0.8% to 15,511 points. The spread between 10-year Italian bonds and the German benchmark, a barometer of Italy's borrowing costs, closed at 353 points with 10-year yields at 5%. The Frankfurt Dax bourse dropped 0.7% to 7,233 points, while the Paris Cac 40 Index fell 0.7% to 3,389 points. Madrid's Ibex index fell 1.1% to 7,752 points. London's Ftse 100 closed down 0.6% at 5,739 points.

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