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Strong gains for European shares | Strong gains for European shares |
(20 minutes later) | |
European shares opened higher on Friday at the end of an extraordinary week of trading, taking heart from the gains on Wall Street on Thursday. | European shares opened higher on Friday at the end of an extraordinary week of trading, taking heart from the gains on Wall Street on Thursday. |
The FTSE 100 rose 3.1%, the Dax in Frankfurt was up 2.5% and the Cac 40 in Paris was up 3.7%. | |
It followed gains of 4.7% in New York and 2.8% on Tokyo's Nikkei 225 index. | It followed gains of 4.7% in New York and 2.8% on Tokyo's Nikkei 225 index. |
The mood was helped by news from IBM, which said it expects to meet long-term profit forecasts and Google, which reported better-than-expected results. | The mood was helped by news from IBM, which said it expects to meet long-term profit forecasts and Google, which reported better-than-expected results. |
Rallies and slumps | Rallies and slumps |
Stock markets have been rallying and slumping on alternate days as investors try to decide how severe the global economic downturn will be. | Stock markets have been rallying and slumping on alternate days as investors try to decide how severe the global economic downturn will be. |
"This is the most volatile week we've seen," said Thierry Lacraz, strategist at Swiss bank Pictet in Geneva. | "This is the most volatile week we've seen," said Thierry Lacraz, strategist at Swiss bank Pictet in Geneva. |
"The sole intelligent thing is to remain on the sidelines and not make any huge bets." | "The sole intelligent thing is to remain on the sidelines and not make any huge bets." |
Among other developments:
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