Monday June 22, 2009
LONDON: European shares were up in early trade on Friday, with energy and mining shares rising on strong commodities prices, banks higher, and following U.S. gains after data pointed to economic recovery. At 0845 GMT, the FTSEurofirst 300 .FTEU3 index of top European shares was up 0.7 percent at 856.93 points, after gaining 0.6 percent on Thursday. The European benchmark index is up 33 percent from the lifetime low hit on March 9, as investors have become more confident on prospects for economic recovery.
U.S. shares rallied on Thursday, breaking a three-day losing streak, as data on the job market, regional manufacturing and an index of leading indicators revived hopes the recession-hit economy was stabilising.
"The Conference Board leading indicators flashed an end-of-recession signal," said Davy stockbrokers in a note. "It has never fired a false signal before and this time is unlikely to prove any different.
(Reuters)
LONDON: European shares were up in early trade on Friday, with energy and mining shares rising on strong commodities prices, banks higher, and following U.S. gains after data pointed to economic recovery. At 0845 GMT, the FTSEurofirst 300 .FTEU3 index of top European shares was up 0.7 percent at 856.93 points, after gaining 0.6 percent on Thursday. The European benchmark index is up 33 percent from the lifetime low hit on March 9, as investors have become more confident on prospects for economic recovery.
U.S. shares rallied on Thursday, breaking a three-day losing streak, as data on the job market, regional manufacturing and an index of leading indicators revived hopes the recession-hit economy was stabilising.
"The Conference Board leading indicators flashed an end-of-recession signal," said Davy stockbrokers in a note. "It has never fired a false signal before and this time is unlikely to prove any different.
(Reuters)
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