Tuesday, 25 August 2015 15:26
ATHENS: The Athens stock market posted gains of over five percent on Tuesday morning after a more than 10 percent drop the previous day during the ferocious global stock rout.
During mid-morning trading, the Athex Composite surged 5.31 percent after plunging 10.54 percent amid “Black Monday” turmoil across global markets panicking over feared economic slowdown in China.
Among other European bourses rebounding Tuesday, Paris gained 3.15 percent, Lisbon rose 3.13 percent, Milan increased 3.43, Madrid gained over three percent and Moscow climbed 2.25 percent.
London’s FTSE 100 and Frankfurt’s Dax 30 showed more moderate increases Tuesday following the chaos of the previous session, when concern over the health of China’s economy — the world’s second-largest — caused stock markets across the globe sharply downward and similarly depressed commodity prices.
Global equities have lost more than $ 5 trillion since China’s shock currency devaluation on August 11, in what many observers viewed as an effort by Beijing to kindle the economy by making the country’s stagnating exports cheaper abroad.
