European markets rise on revised U.S. third-quarter growth

Stocks also surge on Obama possible fiscal cliff budget

European markets rise on revised U.S. third-quarter growth

Milan, November 29 - Markets jumped across Europe on Thursday, paced by Milan's FTSE MIB index, after US economic growth for the third quarter was revised upwards and amid optimism about President Barack Obama's upcoming budget plans. US third-quarter gross domestic product grew a revised 2.7%, up from the 2% originally reported, according to figures released on Thursday from the Commerce Department in Washington. Italy's Ftse Mib index gained 2.8% to 15,887 points. The yield spread between 10-year Italian bonds and the German benchmark, a barometer of Italy's borrowing costs in the eurozone crisis, closed at 319 points with 10-year yields at 4.6%. The Frankfurt Dax bourse jumped 0.8% at 7,400, while the Paris Cac 40 Index gained 1.5% to 3,568 points. Madrid's Ibex index advanced 1.7% to 7,973 points. London's Ftse-100 stock market advanced 1.2% to 5,870 points.

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