Tuesday, 25 August 2015 18:09
PARIS: European stock markets roared back into the black Tuesday, with most indices regaining much of the steep losses suffered the previous session on fears of economic slowdown in China.
In trading around 1130 GMT, London’s FTSE 100 index was up 3.53 percent, the CAC 40 in Paris rose 4.58 percent and the DAX 30 in Frankfurt climbed 4.28 percent.
The trio had closed 4.67, 4.7 and 5.35 percent lower respectively on Monday amid a global stock sell-off that wiped billions of dollars from equity markets, as traders panicked over signs of unexpectedly fast economic slowing in China.
Other emphatic rebounds in Europe Tuesday included rises in Milan of 4.54 percent, 4.64 percent in Amsterdam, 4.36 percent in Lisbon and the Athens market clawing 7.09 percent back from the 10.54 percent it lost during the previous “Black Monday” session.
“‘Turnaround Tuesday’ continued this morning, with nervy investors pouring back into the European indices as they try and regain the ground that was lost on that nightmarish Monday,” said Spreadex analyst Connor Campbell.
Despite the bounce-back in Europe as traders hunted for bargains, however, many market-watchers warned of continuing volatility marked by successive rises and falls as focus returns to economic fundamentals — and ongoing doubts about China in particular.
