EU markets end the week on a down note

Most European stock markets closed lower on Friday despite efforts one day earlier by the European Central Bank to boost economic growth via interest rate cuts. The euro hit a two-year low against the U.S. dollar after Thursday's interest-rate cut by the ECB brought its key lending rate to 0.75% and made the currency even less appealing. The euro closed Friday at $1.226. The spread between Italian 10-year bonds and the German benchmark, a key indicator of investor faith in Italy's ability to weather the debt crisis, rose 10 points to end the day at 467. Italian bond yields reached 5.99%. Spain's 10-year government-bond yields rose past 7%, an unsustainable level and one that could push the country to seek a bailout, similar to that of Greece or Portugal. (ANSAmed).