Milan, European markets climb on positive US jobless data

The Milan stock exchange led the way on Friday as European markets made gains after figures showed that the jobless rate in the United States was declining. The jobless rate in the U.S. dropped to 7.8% last month, the lowest level in more than three and a half years. Italy's Ftse Mib index jumped 2.4% to 15,876 points. The Frankfurt Dax index advanced 1.3% to 7,398 points, while the Paris Cac 40 Index rose 1.6% to 3,457 points. Madrid's Ibex index gained 1.8%, while London's FTSE-100 climbed 0.7%. The yield spread between 10-year Italian bonds and the German benchmark fell, amid investor optimism about a possible US-driven economic recovery. The spread, a barometer of Italy's borrowing costs in the eurozone crisis, closed at 353 points with 10-year yields at 5.1%. The spread closed Thursday on 368 points.