European stock markets rally, propelled by Milan's momentum

miércoles 24 de septiembre de 2014 12:36 GYT

* FTSEurofirst 300 closes up 0.8 pct at 1,385.77 points

* FTSE MIB outperforms after Italy consumer confidence rises

* German business sentiment drops for fifth straight month

* TNT slumps by nearly 10 percent

By Sudip Kar-Gupta

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

Encouraging comments by European Central Bank chief Mario Draghi also supported the markets, enabling them to overcome the drag of weak German economic data and tepid results from Dutch group TNT.

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

The pan-European FTSEurofirst 300 index closed up by 0.8 percent 1,385.77 points. Milan's FTSE MIB equity index rose 1.7 percent after Italian consumer confidence rose in September.   Continuación...