Europe Markets Soar on Wall Street Gains
Canada's benchmark TSE 300 registered triple-digit gains on the back of bargin hunting. Some confidence that the U.S. has been successful in keeping a broad coalition together has helped improved market sentiment, rising 148.87 points, or 2.29%, to 6662.00. High profile names like JDS Uniphase, which provided a dose of good news when it indicated that their business appear to show some stablization, also helped improve market sentiment. News that the Swiss National bank eased rates again also contributed to some of the optimism. The current market breadth is 160-127 positive.
Europe stock rose. In London, the Financial Times-Stock Exchange 100 index gained 180.20 points, or 4.06%, to 4,613.90. But the U.K. markets were still fearful that a U.S. recession could drag the rest of world along with it.
In France, the CAC 40 was up 208.32 points, or 5.70%, to 3,861.19. In Germany, the DAX index was up 251.46 points, or 6.64%, to 4,038.69, buoyed by the bounce in the U.S. There was little immediate reaction to a report that EuroZone industrial production fell 1.4% in July after rising 0.9% in June. It was the worst decline in six months.
Asia markets end higher. Hong Kong's Hang Seng index closed higher by 350.30 points, or 3.92%, to 9,284,50. Japanese markets were closed in observance of Autumnal Equinox Day.
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