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London and Paris stocks rebound, but Frankfurt sags
LONDON, Dec 27, 2018 (BSS/AFP) – London and Paris stock markets rebounded
in opening deals on Thursday, after Wall Street enjoyed its best performance
in nine years, but Frankfurt fell as investors played catch-up.
Returning from the holiday break, London’s benchmark FTSE 100 index won
0.4 percent to 6,712.97 points compared with the close on Monday.
In the eurozone, the Paris CAC 40 surged almost 1.4 percent to 4,689.20
from Monday’s close.
But Frankfurt’s DAX 30 fell nearly 0.3 percent to 10,607.42 points on the
German market’s first trading day of the week. That compared with the
previous closing level on Friday.
Wall Street stocks meanwhile roared back to life on Wednesday, shaking off
four straight routs following strong retail sales data and White House
reassurances that Federal Reserve Chair Jay Powell won’t be fired.
The Dow Jones Industrial Average finished up nearly 1,100 points, or about
five percent, at 22,878.45 points.
Asian equities mostly sparkled on Thursday, with Japanese shares surging
nearly four percent in value, giving some welcome relief from a lingering
global markets downturn.
For the Christmas holiday, Frankfurt was shut for business on Monday,
Tuesday and Wednesday this week.
London and Paris had suffered steep losses in half-day sessions on Monday,
before festive shutdowns on Tuesday and Wednesday.
BSS/AFP/HR/1458