Milan

European markets advance on U.S. unemployment data

Joblessness lowest since December 2008

European markets advance on U.S. unemployment data

Milan, May 3 - Markets gained across Europe on Friday, paced by Milan's FTSE-Mib index, as stocks reacted to positive US employment data. A Labor Department report released Friday showed the jobless rate in the world's largest economy dropped to the lowest levels since 2008. The report showed payrolls grew by 165,000 workers in April, compared to a revised 138,000 March gain, while the jobless rate fell to 7.5% from 7.6% in March. Italy's FTSE-Mib index gained 1% to 16,922 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 251 points with 10-year yields at 3.8%. The Frankfurt Dax bourse reached a record 8,117 points, while the Paris Cac 40 index rose 1.3% to 3,909 points. Madrid's Ibex index advanced 1.6% to 8,539 points. London's Ftse-100 stock market closed up 0.8% to 6,514 points.

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