Resurgent US sends Europe skywards...
Published: 13 June 2001 10:12 GMT
European exchanges opened brightly this morning following a late resurgence in the US yesterday with technology stocks leading the way.
The FTSE100 was up 0.5 per cent by 09:00(BST) with the FTSE TechMark index rising one per cent. European bourses fared just as well, with the German DAX up 0.4 per cent and the Paris CAC 40 up 0.6 per cent.
In the UK early gains were made by BT, which announced it will sell its property portfolio. Vodafone and chipmaker ARM, which rose 4 per cent, also enjoyed gains.
Nokia continued to make up ground it lost yesterday after a profit warning sent US stocks tumbling early yesterday. London shares were up three per cent, following a 19 per cent fall on the New York Stock Exchange on Tuesday.
Nokia's bad news initially forced the Nasdaq down three per cent yesterday. However, US exchanges recovered late in the day, with the nasdaq closing down just a fraction and the Dow Jones Index gaining 0.2 per cent.
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