ROME: Europe’s main stock markets
have rallied, while the euro retreated against the US dollar as investors reacted to US economic data and debt moves by Greece in resumed trading after Easter.
London’s benchmark FTSE 100 index jumped 1.9 per cent to end the day at 6,961.77 points, the CAC 40 in Paris rose 1.5 per cent to 5,151.19 points, and Frankfurt’s DAX 30 index climbed 1.3 per cent to 12,123.52 points to approach the record high set last month.
In foreign exchange, the European single currency slid to $US1.0844 from $US1.0928 late in New York on Monday.
“European stocks shot higher on Tuesday after the four-day weekend, playing catch-up with US markets, which rallied on Monday,” Jasper Lawler, analyst at trading group CMC Markets, said.
“Estimates for the timing of the first US rate hike have been pared back after the disappointing non-farm payrolls report over Easter.”
Asian stock markets also rose as most reopened on Tuesday after the long holiday weekend, in their first reaction to soft US jobs data that dampened expectations of an early US interest rate rise.
