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Europe Roundup: Bouncing back
by hlk Sat 13 Aug 2011, 09:22
FRANKFURT/PARIS: European stocks bounced yesterday, prompted by a short-selling ban on financial shares by France, Italy, Spain and Belgium and data from the European Central Bank's overnight loan facility.
At 1134 GMT, the FTSEurofirst 300 index of top European shares was up 2 per cent at 953.51 points, after surging as much as 2.7 per cent earlier in the session.
In early afternoon trade, London was up 1.55 per cent, Frankfurt rose 2.32 per cent and Paris gained 2.23 per cent after weaker starts. Milan was up 2.59 per cent after a sharply weaker opening with Madrid up 2.57 per cent as their banks rose strongly.
"Very calm trading so far. Seems investors and traders are trying not to let it mess up their weekend again," said Stefan de Schutter, trader at Frankfurt-based Alpha Trading. - Agencies
At 1134 GMT, the FTSEurofirst 300 index of top European shares was up 2 per cent at 953.51 points, after surging as much as 2.7 per cent earlier in the session.
In early afternoon trade, London was up 1.55 per cent, Frankfurt rose 2.32 per cent and Paris gained 2.23 per cent after weaker starts. Milan was up 2.59 per cent after a sharply weaker opening with Madrid up 2.57 per cent as their banks rose strongly.
"Very calm trading so far. Seems investors and traders are trying not to let it mess up their weekend again," said Stefan de Schutter, trader at Frankfurt-based Alpha Trading. - Agencies
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