European shares rebound as oil prices dive

0 Comments | AFP, September, 2008

LONDON (AFP) — Europe's leading stock exchanges rallied on Tuesday on tumbling crude oil prices and the prospect of lower interest rates, while British companies also benefited from a weaker pound.

By late morning trade, London's FTSE 100 index of top shares showed a gain of 0.32 percent at 5,621.00 points compared to Monday's lower finish.

"UK companies stand to benefit from the pound's seemingly endless decline as exports priced in sterling get cheaper and any overseas profits become more valuable," said CMC Markets analyst Matt Buckland.

Nearing the half-way stage on Tuesday, Frankfurt's DAX 30 was up by 1.34 percent to 6,507.93 points and in Paris the CAC 40 won 1.17 percent to 4,524.37.

The DJ Euro Stoxx 50 index of leading eurozone shares...