Markets start new week optimistically

European markets launched the new working week in positive mood, following co-ordinated global moves to restore confidence in the financial system.

European exchanges found a new optimism: Frankfurt posting a 5,8 percent rise, London’s FTSE up similarly more than five percent, and Paris around 4,5 percent.

The happier atmosphere came on the heels of similar rises in Asia overnight. Hong Kong registered a huge ten percent rise, clawing back most of the 16,2 percent fall it saw last week. Seoul rose more than three percent, while Australia jumped 5,6 percent, after again falling heavily over the last few days.

Japan’s Nikkei was closed for a holiday, while the US Treasury Market will also be shut later today for Columbus Day celebrations.

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