This article is from the source 'independent' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.independent.co.uk/news/business/news/european-stocks-rebound-after-week-of-market-turbulence-9802020.html
The article has changed 2 times. There is an RSS feed of changes available.
Previous version
1
Next version
Version 0 | Version 1 |
---|---|
European stocks rebound after week of market turbulence | European stocks rebound after week of market turbulence |
(about 1 hour later) | |
European stock markets rebounded on Friday after a fall in US unemployment applications and comments from a European Central Bank official eased nerves about a stalling economic recovery. | |
After sharp falls earlier this week, all major European stock markets entered positive territory in early trading. | After sharp falls earlier this week, all major European stock markets entered positive territory in early trading. |
France's CAC 40 rose 1.7 per cent and Germany's DAX jumped 1.6 per cent. Spain's IBEX 35 and Italy's FTSE MIB advanced more than 2 per cent. In the UK, the FTSE 100 climbed 0.7 per cent to 6,241.38. | |
Stocks were boosted after ECB executive board member Benoit Coeure insisted the eurozone remains on the road to recovery and reiterated the bank is "ready to take additional non-conventional measures, if needed". | |
Yesterday all major European indexes came under intense pressure following a string of negative data from Germany and concerns the eurozone could slip back into recession. | |
Earlier this week, Germany slashed its growth forecast for this year and 2015 and France reiterated in its budget proposal it would not meet its deficit target of 3 per cent until 2017. | Earlier this week, Germany slashed its growth forecast for this year and 2015 and France reiterated in its budget proposal it would not meet its deficit target of 3 per cent until 2017. |
On Wednesday, Greek stocks took a battering and bond yields jumped above the 7 per cent threshold-which many analysts believe is unsustainable- after the anti-bailout party, Syriza, took the lead in a poll. | On Wednesday, Greek stocks took a battering and bond yields jumped above the 7 per cent threshold-which many analysts believe is unsustainable- after the anti-bailout party, Syriza, took the lead in a poll. |
The sell-off also called into question Athens' plan to exit its bailout programme a year earlier than expected. | The sell-off also called into question Athens' plan to exit its bailout programme a year earlier than expected. |
On Thursday, Spain failed to cover a €3.5bn (£2.8bn) debt auction as the sell-off in the periphery continued. | On Thursday, Spain failed to cover a €3.5bn (£2.8bn) debt auction as the sell-off in the periphery continued. |
Previous version
1
Next version