Milan

European stock markets rise on U.S. growth optimism

Italian stocks buck the trend amid brewing govt crisis

European stock markets rise on U.S. growth optimism

Milan, December 6 - Markets rose across Europe on Thursday on optimism a deal may be reached on the US budget. The outlook for the world's largest economy became increasingly positive after 80 members of the US Congress signed an official request that a stalemate on taxes for the highest- earning Americans be overcome. Should this occur, Congress may be able to introduce a planned budget deal aimed at averting the so-called ''fiscal cliff'' involving taxes and spending cuts. Italy's Ftse Mib index bucked the trend as investors shied away from the Italian stock market amid an impending government crisis that could lead to the resignation of its technocratic government. It fell 0.8% to 15,835 points. The yield spread between 10-year Italian bonds and the German benchmark, a barometer of Italy's borrowing costs in the eurozone crisis, rose to 327 points with 10-year yields at 4.6% amid concerns about the tensions that could result in Premier Mario Monti's resignation. The Frankfurt Dax bourse gained 1.1% to 7,534 , while the Paris Cac 40 index advanced 0.3% to 3,601 points. Madrid's Ibex index advanced 0.4% to 7,910 points. London's Ftse-100 stock market closed up 0.2% to 5,901 points.

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