MUMBAI: European stock markets rebounded yesterday after slumping on worries about the soundness of a bank in Portugal, while trading in Asia was muted over the spectre of furtherfinancial turmoil in Europe.
Germany’s DAX was up 0.1 per cent to 9,666.12 and France’s CAC-40 in rose 0.5 per cent to 4,320.68 while, London’s FTSE 100
gained 0.3 per cent to close at 6,688.79 points.
Across in Portugal, Lisbon’s PSI 20 benchmark tumbled 4.34 per cent to 6,092.66 points, while Madrid’s Ibex 35 index depreciated by 2.48 per cent to end the day’s trade at 10,482.20 points.
“I suppose the question on investors’ minds is whether this latest Portugal banking crisis will lead to contagion in the region,” said IG strategist Stan Shamu said in a market commentary.
“Judging by the reaction in the single currency, then possibly the market doesn’t quite feel this is the case.” Agencies
