Europe Roundup: Equities rise
LONDON: European shares mostly rose yesterday on reports of an emerging deal to break the United States budget deadlock, while London was lifted by an impressive stock market debut for Royal Mail.
The London FTSE 100 index gained 0.64 per cent to 6,471.92 points in midday deals, Frankfurt's DAX 30 rose 0.24 per cent to 8,706.26 points, while the Paris CAC 40 index added 0.01 per cent to 4,218.56 points.
"European indices are being driven higher by reports that the Republicans are pursuing a short-term increase of the debt ceiling in a bid to avoid a catastrophic US default," said Alpari analyst Craig Erlam.
"The increase, which would give government six more weeks to come to a longer-term agreement on the debt ceiling, is far from an ideal resolution. However, any deal to avoid hitting it for now will always be well received in the markets." AFP