Milan

European markets rise on positive U.S. consumer spending

Italy lifted by Mediaset, Banco Popolare and Tenaris

European markets rise on positive U.S. consumer spending

Milan, June 27 - Markets advanced across Europe on Thursday, paced by Milan's FTSE MIB index, as stocks gained on the back of a positive US economic data released on Thursday showing consumer spending increased in the world's largest economy in May. Italy's FTSE MIB index advanced 0.4%, lifted by media company Mediaset which jumped 7.8%, Banco Popolare which advanced 3.5%, and Tenaris, which surged 2.9%. 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 284 points with 10-year yields at 4.6%. The Frankfurt Dax bourse advanced 0.6% to 7,990 points, while the Paris Cac 40 Index gained 1% to 3,762 points. Madrid's Ibex index fell 0.3% to 7,844 points. London's Ftse-100 stock market advanced 1.3% to 6,243 points.

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