Newspaper article The Journal (Newcastle, England)

Greek Bailout Encourages FTSE to Rise

Newspaper article The Journal (Newcastle, England)

Greek Bailout Encourages FTSE to Rise

Article excerpt

Byline: Luke Pearce Brewin Dolphin

FOLLOWING the lead of Asian markets, the FTSE 100 started the day strongly, boosted by ministers' moves to approve Greece's second bailout.

The rally was further supported by a raft of economic data, firstly showing that UK exports to non-EU countries rose to the highest level since records began. From Europe, the German ZEW (economic expectations survey) for March rose to 22.3, comfortably surpassing expectations and February's 5.4. This added to recent encouraging signals from the German economy. Global markets reacted positively to data showing that US retail sales in February grew at the fastest pace in five months, which bodes well for economic growth. Investors will eye the FOMC rate announcement and comments from Fed chairman Ben Bernanke after the market close. No policy change is expected but the statement is likely to acknowledge better economic numbers, particularly for the labour market.

The FTSE 100 closed at 5957 up 65 points, surpassing high of 5944 from February. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.