Milan outperforms sluggish European equity markets

miércoles 24 de septiembre de 2014 10:37 GYT

* FTSE MIB outperforms after Italy consumer confidence rises

* German business sentiment drops for fifth straight month

* TNT slumps about 10 pct

By Sudip Kar-Gupta

LONDON, Sept 24 (Reuters) - The Milan stock exchange rose to outperform sluggish European equity markets on Wednesday after data showed that Italian consumer confidence had risen for the first time in four months.

Weak German economic data and tepid results from Dutch group TNT weighed on other European equities, though supportive comments from European Central Bank chief Mario Draghi gave some support.

Speaking in a French radio interview, Draghi said the ECB would keep monetary policy loose for as long as it took to push up inflation in the bloc from near zero towards the level of just under 2 percent targeted by the bank.

The pan-European FTSEurofirst 300 index was up by 0.2 percent at 1,377.12 points in late session trading.

Italian Prime Minister Matteo Renzi has repeatedly vowed to make economic reforms to revive his country's economy, and Milan's FTSE MIB equity index lifted 0.6 percent after Italian consumer confidence rose in September.   Continuación...