Milan

European markets up on U.S. consumer confidence expectations

Report may show six-month high

European markets up on U.S. consumer confidence expectations

Milan, May 28 - Markets advanced across Europe on Tuesday, paced by Milan's FTSE-MIB index, amid expectations a report to be released at 10 am New York time could show May consumer confidence in the US rose to the highest level in six months. Italy's FTSE-MIB index advanced 1.9% to 17,481 points. Fiat gained 4%, while cement-maker Buzzi gained 4% on the back of buy recommendations by Ubs analysts. The banking sector advanced, lifted by lenders such as Unicredit which increased 2.7% and Intesa Sanpaolo which jumped 2.6%. 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 257 points with 10-year yields at 4%. The Frankfurt Dax bourse gained 0.6% to 8,430, while the Paris Cac 40 Index advanced 0.2% to 4,004 points. Madrid's Ibex index advanced 0.5% to 8,409 points. London's Ftse-100 stock market increased 1% to 6,717 points.

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