Milan

European stocks mixed, Italian share index advances

Mediaset gains on positive earnings, cost cuts plans

European stocks mixed, Italian share index advances

Milan, May 16 - Markets were mixed across Europe on Thursday. Milan's FTSE MIB index gained, lifted by media company Mediaset on positive expectations of its cost-cutting plans and also on the back of its first quarter earnings released earlier this week. Italy's Ftse Mib index rose 0.3% to 17,544 points. Mediaset advanced 6% to 2.49 euros, bringing its gains in the past two sessions to 15% amid good reaction to its first quarter results released earlier this week and on the back of positive reports by analysts at Morgan Stanley and Hsbc that highlighted the efficiency of its cost cutting plans. The yield spread between 10-year Italian bonds and the German benchmark equivalents, a barometer of Italy's borrowing costs in the eurozone crisis, closed at 264 points with 10-year yields under 4%. The Frankfurt Dax bourse was little changed at 8,369 points, as was the Paris Cac 40 Index at 3,979 points. Madrid's Ibex index dropped 0.5% to 8,540 points. London's Ftse-100 stock market was little changed at 6,687 points.

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