FXStreet (Mumbai) - The European indices opened the last trading session of the week on a bullish note, bouncing-back sharply after Thursday’s poor performance, as markets respond positively to the latest comments by Fed Chairwoman Yellen, indicating a rate-hike later this year.
Stocks on the European bourses completely ignored a mixed performance on the Asian equities and a weak Wall Street close, and traded with sizeable gains as focus now shifts towards the second-quarter GDP data from the US, which may throw fresh light on the US economic prospects.
The DAX extends recovery from VW scandal-led losses
Markets seem to have moved past the recent Volkswagen emissions-scandal and confidence in the German stocks appear restored as the benchmark index, the DAX 30 rebounds +2.24% to 9,639.
While the UK FTSE 100 index rallied +1.90% to 6,075. Among the other indices, the French CAC 40 index jumps 2.47% to 4,456, while the pan-European Euro Stoxx 50 index gains 2.39% to 3,091.
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