Fed Cut Spurs European Stock Markets
European markets turned positive as it gained the highest in a year. The increase in the market was because of the US Federal Reserve cutting down the lending rates. This Fed movement will bring about liquidity growth, and therefore alleviate the insistency on the international credit markets.
Leading banks BNP Paribas and Deutsche Bank headed the financial services pack.
French benchmark index, CAC 40 climbed up 98.16 points, or 1.86%, to 5,363.63.
UK’s FTSE 100 benefited 190.60 points or 3.25% to 6,049.50.
Germany`s DAX appended 101.03 points, or 1.39% to trade at 7,371.10.
Italy`s MILAN MIB30 rose 697 points, or 1.83%, to trade at 38,808.