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:
*SEE ALSO: Europe's Youth Unemployment Nightmare In 18 Charts >*
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