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<Europe>European Bourses Rise in Early Trade; UK Mkt Up 1%; HSBC, Stanchart Shrs in London Up 3.5%
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European bourses advanced in early trading. The UK market gained 1%, as the plunge in UK inflation last month sparked a decline in the pound, while investors anticipated a quarter-point interest rate cut at this week's Bank of England meeting. The European Central Bank’s interest rate decision this week was also under limelight. The pan-European STOXX 600 added 1.73 points, or 0.3%, to 581.53. The UK FTSE 100 rose 96 points, or 1%, to 9,781.33. The French CAC 40 lifted 11 points, or 0.1%, to 8,118. The German DAX gained 82 points, or 0.3%, to 24,159. The Spanish IBEX 35 climbed 57 points, or 0.3%, to 16,979. The Italian FTSE MIB mounted 259 points, or 0.6%, to 44,249. HSBC HOLDINGS (00005.HK) and STANCHART (02888.HK)’s share prices in London soared 3.5% and 2.7% respectively, while resource stocks Anglo American and Glencore rallied 3.2% and 2% respectively, and oil stock BP leaped 1.9%. STMicroelectronics jumped up 2.3%. AAStocks Financial News |
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