03-04-2008
Asian and European stock markets recover
News by Adfero for Simply Business - independent providers of public liability insurance, business finance, landlord insurance, buy-to-let mortgages & commercial mortgages.
Stock markets in Europe and Asia have recovered amid a resurgence in confidence levels.
Declining fears in relation to the credit crisis have pushed stock markets higher, with the Frankfurt-based Dax increasing by 0.18 per cent, while the Nikkei 225 index in Japan rose by 3.7 per cent.
"Worries about the global credit market and the health of the US economy had been stifling investors," said Kim Sung-Bong, Seoul-based analyst at Samsung Securities.
"Now that those concerns are easing gradually, the market is staging a relief rally, which is quite natural."
Elsewhere, the Hong Kong-based Hang Seng index increased by 4.4 per cent and France's Cac index increased by 0.11 per cent.
Francis Lun, a Hong Kong-based general manager at Fulbright Securities, noted that investors now consider the credit crisis in the US to something that has passed.
In related economic news, growth in the UK's manufacturing sector remained steady over the course of last month, according to data released by research group NTC, in partnership with the Chartered Institute of Purchasing and Supply.