Italy's main financial market closes higher

Milan, other European stock markets begin week on positive note

Italy's main financial market closes higher

Milan, January 21 - Italy's leading stock market began the week on a positive note Monday, part of the rising trend on other European markets. On the Milan Stock Exchange, the FTSE Mib closed 0.44% higher in trading, to end the day at 17,631 points. European investors may have been enjoying a break from negative news out of the United States, where trading was closed on Wall Street due to Martin Luther King, Jr. Day, a national holiday. They did receive some good news out of Germany, where the country's central bank forecast a stronger 2013 for Europe's largest economy. Meanwhile, the spread between Italy's benchmark 10-year bond and its ultra-safe German counterpart closed at 263.2 basis points, up very slightly from last Friday's close of 261 basis points. The yield on 10-year Italian paper stood at 4.22%. In other European markets, Frankfurt's DAX gained 0.61% to reach 7,748.86 points, while London's FTSE 100 climbed by 0.43% to close at 6,180.98 points, Paris's CAC 40 ended the day 0.57% higher to 3,763.03 points and Spain's IBEX 35 closed trading 0.72% higher at 8,665.90 points.

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