Milan gains 1.28% to lead other euro markets

(ANSA) – Milan, October 24 – Milan’s main financial market led European counterparts on Thursday after losing ground Wednesday on news the European Central Bank (ECB) would start assessing bank assets in November ahead of a single EU banking supervision. The FTSE Mib climbed 1.28% to end trading at 19,152 points, outperforming European markets with banks recovering from the previous session. Bper closed up 5.57%, Mediolanum up 4.05%, Ubi up 3.95%, Mediobanca up 3.37% and Banca Popolare up 3.31% in a surge helped by the spread between 10-year bonds and the German benchmark, a key indicator of investor confidence in Italy’s ability to weather the debt crisis, which was just over 238 points from Wednesday’s 234 points.

Fiat shares climbed up 1.92%, in line with rivals in Europe where autos were the top-performing sector on Thursday.

On other European markets, London’s FTSE-100 climbed 0.58% to end trading at 6,713.18 points, Paris’ CAC 40 gained 0.35% to 4,275.69 points, Frankfurt’s DAX rose 0.68% to 8,980.63 points, and Madrid’s IBEX35 gained 0.89% to end trading at 9,915. 40 points.