Milan

European markets decline amid economic growth concern

ECB's Draghi calls eurozone growth weak

European markets decline amid economic growth concern

Milan, November 8 - Markets fell across Europe on Thursday, paced by Milan's FTSE MIB index, as stocks declined amid concern about slowing economic growth. European Central Bank Governor Mario Draghi said growth in the 17-member euro region remains weak, though it is sustained by the bank's monetary policy. Inflation in the eurozone is expected to remain above 2% for the rest of 2012, and only to drop below that mark next year, Draghi added. The ECB today kept its rates unchanged at 0.75%. Italy's Ftse Mib index fell 0.6% to 15,164 points. The yield spread between 10-year Italian bonds and the German benchmark closed at 365. The spread is a barometer of Italy's borrowing costs in the eurozone crisis. The Frankfurt Dax bourse closed down 0.3% at 7,204 points, while the Paris Cac 40 Index closed little changed at 3,407 points. Madrid's Ibex index fell 0.5% to 7,624 points. London's Ftse-100 stock market closed down 0.3% to 5,776 points.

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