Europe: Equities inch up
LONDON: Europe's main stock markets rebounded yesterday, as positive Chinese manufacturing data helped to offset weak eurozone numbers, while the euro hit a new two-year high against the dollar.
London's FTSE 100 index rose 0.50 per cent to 6,707.89 points nearing midday. Frankfurt's DAX 30 climbed 0.71 per cent to 8,983.41 points, closing in on 9,000 for the first time ever and the CAC 40 in Paris grew 0.28 per cent to 4,272.59 points.
"Better-than-expected manufacturing data from China provided an excuse for investors to dive back into the equity markets in full throttle," said Spreadex trader Shavaz Dhalla.
Eurozone business activity slowed in October, coming off a 27-month high in September to highlight concerns the economy is recovering only slowly from recession, a survey showed. AFP