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Shares boosted by US stimulus package


Shares boosted by US stimulus package


European shares raced higher on Monday and ended the session up over 8.5 percent, boosted by the energy and financial sectors as well as mining companies and carmakers.

London rose more that six percent, Frankfurt 7.5 percent and Paris 8.5 percent.

Investors took heart from a likely rescue plan for US automakers, as well as President-Elect Obama’s proposed massive public works initiative to create jobs.

That pulled up engineering firms – like Siemens – as well as builders.

Metals prices have risen sharply and oil rebounded from last week’s four-year low.

The euro was stronger, with the dollar down, along with sterling and the yen.

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