European markets fall on U.S. retail sales data

Italian-German spread at 306

European markets fall on U.S. retail sales data

Milan, April 12 - Markets slumped across Europe on Friday, paced by Milan's FTSE-Mib index, as stocks reacted to negative US retail sales figures dropped the most in the past nine months. Consumer confidence in the world's largest economy also fell to a nine-month low. Italy's FTSE-Mib index dropped 1.5% to 15,780 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 306 points with 10-year yields at 4.3%. The Frankfurt Dax bourse dropped 1.6% to 7,744 points, while the Paris Cac 40 Index fell 1.2% to 3,729 points. Madrid's Ibex index declined 1.6% to 8,029 points. London's Ftse-100 stock market shed 0.5%, dropping to 6,384 points.

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