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WOW: Europe Hit A High-Note To End The Week

Sam RoFeb 22, 2013, 22:01 IST

Europe had a huge rally today.

England's FTSE 100 was up 0.7%.

France's CAC 40 was up 2.1%.

Germany's DAX was up 1.0%.

Spain's IBEX was up 1.6%.

Italy's FTSE MIB was up 1.6%.

This comes ahead of the huge Italian elections this weekend.

The rally comes even after the EU slashed its euro area growth forecast for the year to -0.3 percent from +0.1 percent.

Then again, the IFO institute told us business confidence jumped to a 10-month high in Germany, the largest economy in Europe.

Here's an intraday look at the EURO STOXX 50 index via Bloomberg:

Bloomberg