European stocks rebound
Wednesday, 4 July 2007
LONDON, July 3 (AFP): Europe's main stock markets rose strongly in early trading Tuesday, with Frankfurt's DAX spiking back above 8,000 points after a rally by Wall Street overnight.
London's FTSE 100 index of leading shares rose 0.66 per cent to 6,634.30 points, Frankfurts DAX 30 index jumped 1.05 per cent to 8,041.92 points and in Paris the CAC 40 climbed 0.71 per cent to 6,069.70.
The DJ Euro Stoxx 50 index of leading eurozone shares increased by 1.00 per cent to 4,514.77 points.
Wall Street shares rallied Monday as investor sentiment was boosted by a flurry of news on corporate dealmaking and a robust report on the US factory sector, dealers said.
Japanese share prices closed flat Tuesday as political worries weighed on sentiment in the absence of any positive domestic leads.
In Frankfurt, MAN saw its share price surge 2.31 per cent to 109.79 euros after US broker Goldman Sachs added the German heavy truck manufacturer to its "conviction buy list."
Goldman raised its price target to 125 euros per share from 113.
In London, Rolls-Royce soared 3.45 per cent to 554 pence after the engine maker said it had won orders across all areas of its businesses and increased its global customer base significantly during the second quarter.
"This has been an encouraging quarter for the group," chief executive John Rose said in a trading update.
Elsewhere, Danone gained 2.82 per cent to 62.67 euros in Paris after the French food group said it was in exclusive talks with US rival Kraft Foods about the sale of its biscuit unit for 5.3 billion euros (US$7.2 billion).
Danone confirmed reports that it had received an offer from Kraft for operations that generated annual sales of about 2.0 billion euros from 20 countries.
Across the Atlantic, the Dow Jones Industrial Average climbed 0.95 per cent to close at 13,535.43 points Monday and the tech-heavy Nasdaq composite jumped 1.12 per cent to 2,632.30 points.
The broad-market Standard Poor's 500 index rose 1.07 per cent to 1,519.43.
London's FTSE 100 index of leading shares rose 0.66 per cent to 6,634.30 points, Frankfurts DAX 30 index jumped 1.05 per cent to 8,041.92 points and in Paris the CAC 40 climbed 0.71 per cent to 6,069.70.
The DJ Euro Stoxx 50 index of leading eurozone shares increased by 1.00 per cent to 4,514.77 points.
Wall Street shares rallied Monday as investor sentiment was boosted by a flurry of news on corporate dealmaking and a robust report on the US factory sector, dealers said.
Japanese share prices closed flat Tuesday as political worries weighed on sentiment in the absence of any positive domestic leads.
In Frankfurt, MAN saw its share price surge 2.31 per cent to 109.79 euros after US broker Goldman Sachs added the German heavy truck manufacturer to its "conviction buy list."
Goldman raised its price target to 125 euros per share from 113.
In London, Rolls-Royce soared 3.45 per cent to 554 pence after the engine maker said it had won orders across all areas of its businesses and increased its global customer base significantly during the second quarter.
"This has been an encouraging quarter for the group," chief executive John Rose said in a trading update.
Elsewhere, Danone gained 2.82 per cent to 62.67 euros in Paris after the French food group said it was in exclusive talks with US rival Kraft Foods about the sale of its biscuit unit for 5.3 billion euros (US$7.2 billion).
Danone confirmed reports that it had received an offer from Kraft for operations that generated annual sales of about 2.0 billion euros from 20 countries.
Across the Atlantic, the Dow Jones Industrial Average climbed 0.95 per cent to close at 13,535.43 points Monday and the tech-heavy Nasdaq composite jumped 1.12 per cent to 2,632.30 points.
The broad-market Standard Poor's 500 index rose 1.07 per cent to 1,519.43.