European stocks closed well above the lows but the periphery still took a hit.

  • UK FTSE +0.2%
  • German DAX -0.4%
  • French CAC -1.1%
  • Spain IBEX -3.1%
  • Italy MIB -2% (was down as much as 3.8%)

Periphery bond yields remain near the highs of the day.