viernes, 11 de septiembre de 2009

European stock markets opened its sixth day with gains

The main squares in the region recorded increases of between 0.5 and 1 percent. Shares of banks trendsetters. In Asia, the China market gained 2.22 percent

European shares opened higher on Friday for the sixth straight day and hit a new high in 11 months, with financial stocks extending their recent highs and the energy to rise in line with rising oil prices.
The FTSEurofirst 300 was up 0.48 percent at 993.07 points, having earlier touched a peak at 995.37 points. The index, which lost 45 percent in 2008, has risen 20 percent this year and has climbed 54 percent from a record low in March.

The bank stocks were among the top gainers. Barclays, Lloyds, Royal Bank of Scotland, BNP Paribas and Societe Generale gained between 0.5 and 1.8 percent, while Commerzbank rose 2.8 percent.

"The fall has been hard, and recovery has been equally impressive, but I'm sure many traders prefer softer movements than the effect we saw in the last 12 months," said John Murphy, an analyst at ODL Securities.

"As we near highs for the year and the anniversary of the collapse of Lehman Brothers, will be interesting to see if there is a cooling off period next week," he added.

An improvement in the macroeconomic worldwide generated optimism. Industrial production, investment and credit increased in China in August, suggesting that economic recovery is under way.

The dollar hit minimum of one year after the economic data in China, which prompted investors to sell their holdings of U.S. currency for riskier assets. Mining stocks were applied to signs of a global economic recovery that improved the sector's perspective.

BHP Billiton, Anglo American, Antofagasta, Rio Tinto and Xstrata were up between 0.75 and 2.5 percent. In Europe, Britain's FTSE 100 rose 0.64 percent, Germany's DAX, up 0.5 per cent and the French CAC40, 0.75 percent.

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