European Markets Open Higher as Asia Rallies

Street's positive close has investors upbeat
By Jim O'Neill,  Newser User
Posted Feb 4, 2008 7:33 AM CST
A businessman walks past the electronic stock board showing Monday's gain of Japan's stock index in Tokyo, Feb. 4, 2008. Japanese shares surged early Monday after gains on Wall Street last week improved...   (Associated Press)
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(Newser) – European markets opened higher on the heels of a mining and technology stock rally in Asia and a positive close on Wall Street Friday, reports the AP. China's benchmark Shanghai Composite Index surged 8.1%, in part on news in state-run papers that the snow emergency in China was overblown. Hong Kong's Hang Seng index jumped 3.8%, Japan's Nikkei 225 index rose 2.7 %, and markets in South Korea and India were also up strongly at the close.

The European Dow Jones Stoxx 600 was up 0.9%, the German DAX rose 0.9%, and the French CAC and UK’s FTSE both edged up slightly by midday. US stock index futures were flat or up slightly. Dow futures were up 2 points to 12,758, while S&P 500 futures were barely changed.