11 Aug '11, 9am

European stock markets rebound from sharp losses

European stock markets rebound from sharp losses

LONDON - Europe's main stock markets rebounded sharply on Thursday, after sliding the previous day on unfounded rumours of a France credit rating downgrade and worries over Societe Generale's Greek debt exposure. In Paris, the CAC 40 index of top shares rallied 2.96 percent to 3,090.51 points, one day after plunging 5.45 percent. Elsewhere, London's FTSE 100 jumped 2.2 percent to 5,118.29 points and Frankfurt's DAX 30 leapt 2.81 percent to 5,771.21 points. Madrid meanwhile soared 3.01 percent and Milan 2.79 percent, again after very sharp losses Wednesday on the back of fresh investor nerves about the eurozone debt crisis. In Paris, Societe Generale's share price jumped 8.9 percent to 24.16 euros, after a brief suspension following losses of up to 20 percent Wednesday, as the French banking giant denied it was facing trouble over its Greek exposure. Other banks, which also...

Full article: http://www.channelnewsasia.com/stories/afp_world_business...

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World stock markets rally

World stock markets rally

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