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Calm returns to global exchanges Calm returns to global exchanges
(about 1 hour later)
Calm has returned to global markets, with European shares opening higher after earlier Asian gains and an overnight recovery on Wall Street. Calm has returned to global markets, with European shares higher in lunchtime trading after earlier gains in Asia and overnight on Wall Street.
Despite ongoing concerns regarding the US economy, confidence has returned following strong results from Apple. Despite continuing concerns over the US economy, confidence has returned following strong results from Apple.
The computer firm posted a 67% rise in quarterly profit overnight. The computer firm posted a 67% rise in quarterly profit on Monday.
London's main FTSE 100 index had added 74 points or 1.1% to 6,533 by late morning, while Frankfurt's Dax was up 0.5%, and Paris' Cac had gained 0.7%. London's main FTSE 100 index had risen 91 points, or 1.4%, to 6,550 by midday, while Frankfurt's Dax and Paris's Cac indexes were both up by 1%.
Caterpillar warningCaterpillar warning
Tokyo's Dax had earlier closed Tuesday up 12 points to 16,451, with analysts saying Japanese shares were also benefiting from the yen falling against the dollar. Tokyo's Nikkei index had earlier closed up 12 points at 16,451, with analysts saying Japanese shares were also benefiting from the yen falling against the dollar.
New York's main Dow Jones index finished Monday in New York up 45 points to 13,567, on optimism about Apple's results before they were released following the close of trading.New York's main Dow Jones index finished Monday in New York up 45 points to 13,567, on optimism about Apple's results before they were released following the close of trading.
Analysts said Japanese shares were also benefiting from the yen falling slightly against the dollar.
Markets had fallen sharply on Monday and Friday, after US heavy machinery group Caterpillar said it expected the US economy would be "near to, or even in, recession" next year.Markets had fallen sharply on Monday and Friday, after US heavy machinery group Caterpillar said it expected the US economy would be "near to, or even in, recession" next year.