Milan

European markets fall as ECB holds rates unchanged at 0.5%

Italy's Ftse Mib index down 2.6% to 16,525 points

European markets fall as ECB holds rates unchanged at 0.5%

Milan, June 6 - Markets fell across Europe on Thursday, paced by Milan's FTSE MIB index, as stocks declined following the European Central Bank's decision not to cut interest rates at its rate-setters' meeting. Italy's Ftse Mib index fell 2.6% to 16,525 points. The ECB kept its benchmark interest rate unchanged at a record low of 0.5 percent at its meeting. The yield spread between 10-year Italian bonds and the German benchmark equivalent, a barometer of Italy's borrowing costs in the eurozone crisis, gained to 284 points with 10-year yields at 4.4%. The Frankfurt Dax bourse fell 1.2% to 8,098 points, while the Paris Cac 40 index fell 1 % to 3,3,814 points. Madrid's Ibex index dropped 0.9% to 8,216 points. London's Ftse-100 stock market dropped 1.3% to 6,336 points.

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