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Markets & Finance

Canada Markets Climb

Canada's benchmark TSE 300 rose on growing confidence that the economy may have already brushed rock bottom levels and is on a strong rebound. The TSE 300 added 151 points, or 1.96%, to 7861.80.

European markets closed with gains. In London, the FTSE 100 index was up 73 points, or 1.41% at 5,242 in reaction to Tokyo's 5.9% surge overnight and New York's burst on Friday on hopes for an economic recovery. The FTSE was aided by report that CIPS construction index rose to 55.4 in February from 54.0 in January and the CBI report that services optimism rose for first time in year.

In Germany, the DAX index climbed 148.43 points, or 2.91% to 5,245.84 on hopes that the US economic recovery will spill over to Europe and on the stock markets in Asia soaring overnight.

In France, the CAC 40 added 121.02 points, or 2.70% to 4,607.44.

Asian markets ended higher. In Japan, the Nikkei soared 5.90% to 11,450.22. The market was boosted by signs of an upturn in the U.S. economy, and progress in the reorganization of Japan's corporate sector. Plus, technical buy-backs related to new restrictions on short-selling continued from last week in full force.

In Hong Kong, the Hang Seng jumped 2.67% to 10,704.12.

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