ROME: Europe’s main stock markets have jumped, boosted by the latest US data showing the recovery is on track in the world’s biggest economy.
London’s benchmark FTSE 100 index per cent rose 3.6 per cent to close on Thursday at 6,192.03 points.
In the eurozone, the CAC 40 in Paris per cent gained 3.5 per cent to end at 4,658.18 points, and Frankfurt’s DAX 30 added 3.2 per cent to finish at 10,315.62 points.
Global stock markets rose on renewed confidence in the US recovery after days of wild swings, but dealers warned that the spectre of the slowing Chinese economy threatens more turbulence ahead.
Equities in Europe and on Wall Street climbed on revised US data showing stronger US growth in the second quarter of 3.7 per cent, compared with the previous estimate of 2.3 per cent.
“The US economy continues to perform on a consistent basis …. (showing) that its economic recovery is sustainable … The United States is leading the global economy as it has been since late last year,” FXTM chief market analyst Jameel Ahmad said.
The news gave comfort to investors rattled by slagging Chinese growth, and sent US indices at or near 1.7 per cent higher in mid-day trade in New York, after snapping a six-day losing streak on Wednesday by closing about 4.0 per cent ahead.
Asian equities also rallied on Thursday after several tumultuous days, but dealers cautioned that enduring concerns about China would spell more uncertainty.
