Europe’s markets stay positive
EUROPE’S stocks rose yesterday to a one-week closing high on rumours on ECB support.
The French CAC rose 1.37 per cent, the German DAX jumped 1.16 per cent, and the Euro Stoxx 50 index rose 0.58 per cent.
“The rumour mill has been busy, with talk of an ECB press conference about bank recapitalisation, supporting the euro and giving Eurozone stocks upside momentum,” said Saxo Bank’s chief economist Steen Jakobsen.
“We do not believe in it, for the record.”
The FTSE 100 also joined the rally, rising 0.65 per cent, while the Italian FTSE MIB was up 0.38 per cent.
The euro almost held steady over the day at £0.7985 and $1.2483.