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Europe Roundup: Trading higher
by hlk Tue 11 Oct 2011, 08:15
PARIS: European stocks rose yesterday as investors welcomed a Franco-German pact to support troubled banks, news that coincided with a cross-border rescue of lender Dexia.
London's FTSE 100 index added 0.99 per cent to 5,356.24 points in late morning trade. Paris' CAC 40 gained 1.10 per cent to 3,129.51 and Frankfurt's DAX 30 was up 0.55 per cent to 5,706.68 approaching the half-way mark.
The Madrid stock market increased by 0.43 per cent and Milan rallied 1.80 per cent.
At 1116 GMT, the FTSEurofirst 300 index was up 0.8 per cent at 954.97 points.
"The announcement that Merkel and Sarkozy have reached agreement on how to reinforce beleaguered eurozone banks is certainly adding some support" to stock markets, said analyst Chris Weston at trading group IG Markets. - Agencies
London's FTSE 100 index added 0.99 per cent to 5,356.24 points in late morning trade. Paris' CAC 40 gained 1.10 per cent to 3,129.51 and Frankfurt's DAX 30 was up 0.55 per cent to 5,706.68 approaching the half-way mark.
The Madrid stock market increased by 0.43 per cent and Milan rallied 1.80 per cent.
At 1116 GMT, the FTSEurofirst 300 index was up 0.8 per cent at 954.97 points.
"The announcement that Merkel and Sarkozy have reached agreement on how to reinforce beleaguered eurozone banks is certainly adding some support" to stock markets, said analyst Chris Weston at trading group IG Markets. - Agencies
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