European markets mixed, Madrid drops as Milan gains

London little changed, Frankfurt down 0.7%

European markets mixed, Madrid drops as Milan gains

Milan, June 13 - Markets were mixed across Europe on Thursday, as gains in Milan's FTSE-Mib index were offset by declines in Madrid's Ibex and the Frankfurt Dax index. Italy's FTSE-Mib index gained 0.6 to 16,116 points. Italian Finance Minister Fabrizio Saccomanni said the government is evaluating "a series of options" in relation to the promised suspension of announced value added tax (VAT) increases, including the delay of these measures for a few months until the public accounts situation "improves".. "The situation is showing signs that are not exactly encouraging, and the outlook is worsening. Not only is the growth deceleration still serious, but there are also negative data with regards to the fiscal and VAT influx," said Saccomanni. 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 280 points with yields at 4.4%. The Frankfurt Dax bourse dropped 0.7% to 8,095 points, while the Paris Cac 40 index gained 0.1% to 3,797 points. Madrid's Ibex index also fell, dropping 0.6% to 8,071 points. London's Ftse-100 stock market was little changed at 6,304 points.

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