Markets: European shares higher after last week’s bumpy ride
Published 15/08/2011 | 17:20
Most European markets closed ahead today as memories of last week's turbulent trading began to fade.
London's leading share index was 30.5 points higher at 5350.6 as takeover talks in the US and an improved outlook for Japan's earthquake-ravaged economy lifted sentiment.
Wall Street's Dow Jones Industrial Average was 100 points higher following strong gains on Friday after Google today unveiled a multi-billion takeover of smartphone maker Motorola Mobility (see related story).
Investors were keen to brush off weak manufacturing and housing sentiment that added to as slew of bad economic news last week that took the S&P 500 near a one-year low.
The Nasdaq Composite Index added over 1.3pc to 2,540.88.
Back in Europe, Germany’s DAX finished 0.41pc up at 6,022.24 while in Paris the CAC closed at 3,239.03, a 0.78pc increase.
The FTSE was driven higher by commodity shares but banks continued to struggle after last week's rumours over the health of France's economy and its banks in particular.
But analysts added that some good value was created by recent weakness in the markets which is attracting investors.
(Additional reporting Press Association)