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Summary European markets shares soared as ECB purchased government bonds of both countries.
Spanish and Italian shares soared in early trading Monday, despite losses across the world, as the European Central Bank purchased government bonds of both countries.We see a strong technical rebound following the ECBs announcement, said Soledad Pello, analyst at IG Markets in Madrid. Gains may moderate later in the day, but we see a change in sentiment as sovereign bond spreads are also narrowing.
