Europe Is Having A Huge Day

[thenews]

There's a big rally going on across Europe right now.

England's FTSE 100 is up 0.7%.

France's CAC 40 is up 1.9%.

Germany's DAX is up 1.0%.

Spain's IBEX is up 1.6%.

Italy's FTSE MIB is 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:

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