30 Mar 2015
European stocks rise on Chinese stimulus
FXStreet (Mumbai) - The major Europeans stocks advanced on Monday on hopes that Chinese stimulus would boost world’s second largest economy, however, concerns regarding Greece’s finances weakened the Euro and the periphery stock markets.
The German Dax gained 1.43%, while the London’s Ftse rose 0.4%. The French Cac advanced 1%. The rally in the technology shares in Europe, tracking the recovery in the US tech stocks on Friday, helped the markets bounce back.
The mining stocks also rallied after China unveiled an ambitious plan to build a modern Silk Road to Europe and Africa. Rumors are also doing the rounds that the People’s Bank of China may ease mortgage policy.
Athens' stock market falls
The Greek stock market fell along with the Euro due to uncertainty over whether Greece and its international creditors will be able to reach a deal that will help Greece secure funding before it runs out of money by April 20.
Athens sounded upbeat regarding the deal, although lenders said it could take several more days before a proper list of measures was ready.
The German Dax gained 1.43%, while the London’s Ftse rose 0.4%. The French Cac advanced 1%. The rally in the technology shares in Europe, tracking the recovery in the US tech stocks on Friday, helped the markets bounce back.
The mining stocks also rallied after China unveiled an ambitious plan to build a modern Silk Road to Europe and Africa. Rumors are also doing the rounds that the People’s Bank of China may ease mortgage policy.
Athens' stock market falls
The Greek stock market fell along with the Euro due to uncertainty over whether Greece and its international creditors will be able to reach a deal that will help Greece secure funding before it runs out of money by April 20.
Athens sounded upbeat regarding the deal, although lenders said it could take several more days before a proper list of measures was ready.