European markets fall amid concern over slowing growth

Madrid bucks trend, gaining for second trading session

European markets fall amid concern over slowing growth

Milan, July 26 - Markets fall across Europe on Friday, paced by Milan's FTSE MIB index, as stocks declined amid concern over possible slowing economic growth in Europe. A slew of earnings reports falling short of analysts' forecasts including those of BASF SE and ABB Ltd dampened trading after following close in the wake of Thursday's International Monetary Fund (IMF) warning on the state of the eurozone economy. The IMF said Europe, particularly in the periphery of the 17-member region, faces an elevated risk of stagnation in the medium term, adding that if reforms are not executed there is the possibility financial markets turbulence could start again. Italy's Ftse Mib index fell 0.1 % to 16,421 points. 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 274 points with 10-year yields at 4.4%. The Frankfurt Dax bourse dropped 0.7% to 8,244, while the Paris Cac 40 Index advanced 0.3% to 3,968 points. London's Ftse-100 stock market fell 0.5% to 6,554 points. Madrid's Ibex index bucked the trend, closing up 0.9% to 8,354 points.

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