Europe Roundup: Shares rebound
LONDON: European stock markets rebounded yesterday as traders reacted to signs of progress in solving a budget stand-off in Washington that threatens to plunge the United States into default.
London's benchmark FTSE 100 index rose 1.03 per cent to stand at 6,403.48 points nearing midday in the British capital.
Frankfurt's DAX 30 climbed 1.37 per cent to 8,633.02 points and the CAC 40 in Paris grew 1.54 per cent to 4,190.81points.
"Reassurances from the US that short-term measures will be instigated to avert the upcoming debt-ceiling deadline have given European equity markets a jolt upwards, helping to stem some of the risk aversion of the past few days," said Brenda Kelly, senior market strategist at IG trading group. AFP