Italian Stocks Surged Today

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Photo: jurvetson / Flickr

European stock markets just closed, and Italy was the big winner today – the FTSE MIB jumped 2.2 per cent, led by Italian bank shares.In London, the FTSE 100 was up 0.75 per cent, closing at its highest level since May 2008.

Spanish stocks were also logged nice gains – the IBEX 35 closed up 1.7 per cent.

There were no big headlines out of Europe for markets to seize on, but many are crediting today’s gains to Alcoa’s earnings report after the closing bell yesterday, which came in above expectations and gave earnings season a good start in the United States.

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