Thursday, July 2, 2009

Wednesday Market Update

On Wednesday at the European market close in London the FTSE hit 1.89 per cent. Frankfurt's Dax and the Paris CAC 40 also made gains up to 2.51 per cent. Wall Street revived as well as foreign exchange markets on Wednesday as S&P- 500 performed record quarter high since 1998. European stock markets started to rise at midday on July the 1-st with commodities gaining. Encouraging reports on China manufacturing, Europe and the US added to optimism that the worst stage of the global recession is over with the decline slowing. M&S reported its smallest decline per quarter in two years.

Commerzbank AG gained 20 per cent after Morgan Stanley`s statement on an agreement by German politicians on a new plan may spur the rise of shares.

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