World stocks gained 0.38 percent and Wall Street opened higher.
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Hopes that Italy might avoid potentially damaging general elections lifted European markets Wednesday, bringing Italian bond yields off multiyear highs and dampening some of the recent buying interest for German and U.S. government bonds.World stocks gained 0.38 percent and European shares made tentative gains after falling almost 4 percent in the past five days.Another positive was a smooth auction of Italian debt that raised 5.57 billion euros ($6.49 billion), easing concerns about Rome's ability to finance itself.Milan-listed equities snapped a five-day losing streak and bounced almost 2 percent while short-dated Italian bond yields – a sensitive gauge of political risk – fell more than half a percent from half-decade highs.Ten-year Italian yields slipped 0.18 percentage points.The risk for investors is that euroskeptic political parties are further boosted, with any election viewed as a de facto referendum on Italy's euro membership.
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