Milan

European markets slump on weak U.S. payrolls data

Milan's FTSE-mib bucks the trend, gains 0.6%

European markets slump on weak U.S. payrolls data

Milan, April 5 - Markets declined across Europe on Friday after the US, the world's largest economy, announced payrolls in the month of March gained at the smallest pace in the past nine months. Payrolls in the US increased by a total of 88,000 workers in March, after a revised gain of 268,000 in February. Italy's FTSE-Mib index bucked the trend, rising 0.6% to 15,250 points. The yield spread between 10-year Italian bonds and the German benchmark equivalent, a barometer of Italy's borrowing costs in the eurozone crisis, closed at 317 points with 10-year yields at 4.4%. The Frankfurt Dax bourse slumped 2% to 7,659 points, while the Paris Cac 40 index decreased 1.7% to 3,663 points. Madrid's Ibex index fell 0.6% to 7,798 points. London's Ftse-100 stock market dropped 1.5% to close at 6,250 points.

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