Don't miss

Replay


LATEST SHOWS

EYE ON AFRICA

Burundian top judge says he fled the country after government pressure

Read more

EYE ON AFRICA

U.N. denies accusations it tried to cover sexual abuse in Central African Republic

Read more

MEDIAWATCH

"Francois of Arabia" criticised in French press

Read more

DEBATE

François of Arabia: Hollande's Budding Friendship with the Gulf (part 2)

Read more

DEBATE

François of Arabia: Hollande's Budding Friendship with the Gulf (part 1)

Read more

TALKING EUROPE

Guy Verhofstadt: Lack of EU asylum system is 'pushing people to come to Europe'

Read more

FOCUS

The health risk behind Argentina's soya paradise

Read more

TALKING EUROPE

Disability discrimination: Removing the obstacles to success

Read more

ENCORE!

Music show: Mumford & Sons and the 'Queen of British Blues'

Read more

Europe

European markets recover in volatile early trading

Text by News Wires

Latest update : 2011-08-10

European share prices were volatile in early trading on Wednesday, with most stock exchanges opening higher as investors welcomed the US Federal Reserve’s pledge to keep interest rates near zero for the next two years.

REUTERS - European shares pared gains on Wednesday as the rally spurred by a U.S. Federal Reserve promise to keep interest rates unchanged for two-year started to lose steam.

Banks turned negative, with Italian lenders the stand out fallers as traders said investors could be swapping their bank shares into Italian bonds.

World markets at a click

USA

 
EUROPE
 
 
ASIA
 
Japan's Nikkei 225

Hong Kong Hang Seng

The STOXX Europe 600 Banks index was down 0.4 percent and was among the worst performers. UniCredit SpA fell 3.2 percent and Intesa Sanpaolo lost 3.4 percent.

A trader said most buying was through more passive investments such as tracker indexes rather than an active management approach, suggesting there was still caution in the market.

“Today and maybe for the rest of the week we should have a technical reaction to the sell-off, but short term oriented traders and hedgefunds are selling into this move already,” said Swiss based hedge fund manager Trung-Tin Nguyen.

By 0843 GMT, the pan-European FTSEurofirst 300 index of top shares was up 0.5 percent at 952.72 points having been up as much as 965.05 earlier. It gained 1.2 percent in the previous session, halting a 20 percent dive over 2-1/2 weeks.
 

Date created : 2011-08-10

  • MARKETS

    Asian markets rise on Fed's low interest rates pledge

    Read more

  • FRANCE

    Sarkozy cuts short holiday for urgent economic talks

    Read more

  • USA

    US markets rally at close after volatile session

    Read more

COMMENT(S)