European shares recover as they mirroring Asia, US rebound

0 Comments | AFP, November, 2007

LONDON (AFP) — European stocks rebounded strongly on Wednesday after Asian and US share prices fought back from heavy losses linked to concerns over the global credit squeeze.

"Financial markets have gained some strength back... all led by financials," noted ABN Amro analyst Daniel Snowden.

London's FTSE 100 index of leading companies jumped 1.54 percent to 6,460.20 points, with banking giant HSBC up 3.44 percent despite a sharp rise in US bad debts linked to the subprime loans crisis.

Frankfurt's DAX 30 gained 0.88 percent to 7,846.42 points and in Paris the CAC 40 advanced 1.50 percent to reach 5,621.91.

The European single currency stood at 1.4687 dollars.

Asian stocks were sharply up across the board Wednesday as the region welcomed the...