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Global stocks, FTSE on recovery after wild ride

7th Feb 18 11:06 am

European shares also opened firmer

Global stock markets are staging a rebound today following the volatile swings this week, which wiped $4 trillion off world equities within 24 hours.

UK’s FTSE 100 was up 0.5 per cent in mid-morning trading after suffering its biggest drop since Britain’s 2016 vote to leave the EU on Tuesday. At the time of writing, FTSE 100 had risen by 45.4 points to 7,186.82. The FTSE 250 was also up 106.7 points to 19,369.30.

European shares also opened firmer.The Europe-wide Stoxx 600 was up 0.8 per cent while the Xetra Dax in Frankfurt was up 0.6 per cent.

The trend in Asia was somehow mixed with Japan’s Topix index closing 0.4 per cent higher after falling 4.4 per cent the previous day, while the Nikkei climbed just 0.2 per cent, a day after shedding 4.7 per cent. Meanwhile, Hong Kong’s Hang Seng index closed down 0.8 per cent.

Wall Street suffered its worst percentage fall since August 2011 thsi week when Dow Jones dropped as much as 6.2 per cent by Monday night trading. However, the Dow closed 567 points higher yesterday night at 24,913.

The White House also admitted that it was worried. ‘We’re always concerned when the market loses any value, but we’re also confident in the economy’s fundamentals,’ an official stated yesterday.



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