LONDON: European equities have rebounded as weak Chinese economic growth data stoked Beijing stimulus hopes while the ECB pledged to fully implement its stimulus measures.
London’s benchmark FTSE 100 index rose 0.30 per cent to 7,096.78 points on Wednesday, a new record high close.
Frankfurt’s DAX 30 index edged up 0.03 per cent to 12,231.34 points and the CAC 40 in Paris rose 0.70 per cent to 5,254.35 points.
In foreign exchange activity, the European single currency slid to $US1.0613 from $US1.0654 late in New York on Tuesday.
‘The sign-off on a mega-merger within Europe’s telecoms industry between Alcatel-Lucent and Nokia was enough to pull European stocks out of a two-day slump,’ said CMC Markets UK analyst Jasper Lawler.
