1611 GMT FTSE Mib climbs 2.8% to EUR21419 to a two-month high after the ECB surprised investors with a cut in interest rates. Bank stock prices take off as message to lend more to the eurozone's small businesses is clear. Intesa Sanpaolo up 5.6% and UniCredit rises 5.1%. Mediaset increases 5.6% on possible cooperation with peers on pay-TV. With the euro reaching a one-year low against the dollar, companies with ties to the U.S. currency are hit. Friday focus is U.S. August employment data at 1230 GMT, as well as conclusion of NATO summit in Wales and any indication of an easing of tensions in the Ukraine conflict. (liam.moloney@dowjones.com)

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