Milan bourse leads losses in Europe

Spread up to 333 points amid political uncertainty

Milan bourse leads losses in Europe

Milan, April 3 - The Milan bourse was the worst performer in Europe on Wednesday and pressure on Italy's borrowing costs crept upward amid lackluster US data and political uncertainty in Italy. The FTSE-Mib lost 2.28% on the day to close at 15,200 points. The spread between Italian 10-year bonds and the ultra-safe German bond, a key indicator of Italy's ability to weather the euro crisis, was 333 basis points after falling to 325 on Tuesday. The yield was up to 4.61%. Analysts blamed growing political uncertainty in Italy, where inconclusive elections in February produced no clear winner and, more than one month later, parliament has still not formed a government. Markets were down across Europe due to a disappointing US employment report Wednesday that said private business added 158,000 jobs in March, falling short of an expected 200,000. In Paris, the Cac 40 was down 1.32%, Frankfurt's Dax index was down 0.87% and London's Ftse-100 was down 1.08%.

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