Thursday, August 12, 2010

Euro Shares Bounce off Lows as Fears Ease


Forex Special

Investors reinstated long positions in the European equity markets on Thursday , mainly driven by bargain hunting after global stocks took a beating last Wednesday, on renewed worries over a double-dip recession. 

A mix of factors involving the cool down on Chinese growth prospects, Britain's deceleration forecast in its GDP, all coupled with the diminished slow pace of the US recovery, triggered a strong sell-off in shares across the globe.

Whether or not fears continue to hinder any upside scope,the US jobless figures released later on will help to define today's market sentiment. Benchmark indexes are off its highs, yet still in positive territory. The FTSE-100 rose 0.36%, the DAX trekked 0.14% while the CAC-40 jumped a mere 0.08%.

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