European markets rise on positive US jobless claims data

Italian market gains on consumer confidence at two-year high

European markets rise on positive US jobless claims data

Milan, August 29 - Markets advanced across Europe on Thursday, paced by Milan's FTSE MIB index which gained 1% to 16,905 points, as fresh data from the US showed the economy expanded more than expected by analysts and as jobless claims in the world's largest economy beat forecasts. Italian consumer confidence rose it its highest levels since 2011, according to data released on Thursday by national statistics office Istat. It scored 98.3, a level last seen in August 2011, and compares to 97.4 points in July. The yield spread between 10-year Italian bonds and the German benchmark equivalent, as investor concern about the ongoing debt crisis was pared by the possibility of concrete action by the region's political leaders in conjunction with the European Central Bank. The spread, a barometer of Italy's borrowing costs in the eurozone crisis, closed at 251 points with 10-year yields at 4.4%. The Frankfurt Dax bourse closed up 0.5% to 8,194, while the Paris Cac 40 Index advanced 0.7% to 3,986 points. Madrid's Ibex index gained 0.4% to 8,432 points. London's Ftse-100 stock market gained 0.8% to 6,483 points.

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