Euro Stocks Follow Asia Plunge

Nikkei rises 4.6% to 6-month high

(NEWSER) - The Nikkei stock average soared 4.6% today to close at a 6-month high, leading a rally across Asia. Banking stocks led advances as worries about the US financial system abated, with Mitsubishi UFJ jumping more than 15%. Markets in London, Paris and Frankfurt all opened in positive territory and banks performed well. UBS rose 3.2%, and Barclays jumped nearly 5%. More»

Taiwan leads regional exchanges sharply higher

(NEWSER) - Asian shares jumped today and European markets opened strongly, as good political and economic news encouraged investors. The Taiwan Stock Exchange rocketed 6.8% amid talk that mainland Chinese investors will be allowed to invest in the market, while in Tokyo the Nikkei closed up 4%. In London the FTSE opened up 1.2%, with banks leading advances. The Royal Bank of Scotland rose 10% after a report suggested the effectively nationalized bank would turn a profit this year. More»

(NEWSER) - The ongoing rally in global financial markets could be setting investors up for another crash, analysts tell the Financial Times, warning that it could be a so-called “bear market bounce.” The fact that financial stocks, which took a beating as markets tumbled, are leading the uptick is particularly worrisome: “In general, sustainable post-bubble rallies are not led by those stocks which are the bubble darlings,” said one strategist. More»

Hang Seng has best day in 4 months, Europe rallies

(NEWSER) - Asian stocks soared and European exchanges opened strong, reports the Wall Street Journal, as investors expressed optimism for a G20 deal and prepared for a probable 50-point rate cut by the European Central Bank. The Hang Seng in Hong Kong rocketed 7.4%, its best day in four months, while in Tokyo the Nikkei closed up 4.4%. By mid-morning the main bourses in London, Paris and Frankfurt had all advanced by more than 3%. More»

Nikkei drops 4.5%, Europe opens down

(NEWSER) - Stocks in Asia and Europe plummeted today amid global fears for the auto industry and hesitation that this week's G20 summit in London might not deliver on ambitious goals. In Tokyo the Nikkei dropped 4.5%, with Toyota, Honda and Nissan all posting substantial falls. At midmorning stocks in London, Paris and Frankfurt were all down, with automakers and banks leading losses. More»