Italy stocks cut gains on hung parliament fears

MILAN Mon Feb 25, 2013 10:34am EST

MILAN Feb 25 (Reuters) - Italian shares pared gains and the spread between Italian 10-year government bonds and equivalent German Bunds widened after projections put the centre right ahead in the Senate, contradicting earlier polls from a key parliamentary election.

The Milan blue-chip index was up 1.6 percent by 1526 GMT, having earlier gained nearly 4 percent. The spread widened back to 270 basis points after earlier dipping below 255 basis points.

Initial telephone polls had put the centre-left ahead in both the lower house and the Senate (upper house).

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