European shares ended up 1.2 percent.Financial stocks picked up on news of a last-minute rescue for the US small business lender CIT and Lloyds Banking Group was a top gainer on a newspaper report that it will post a first-half profit. Higher oil and metals prices pulled up energy and mining companies. Copper is at a nine month high and new data indicated stronger fuel use in China, the world’s second largest consumer. Analysts said that speculators are also starting to buy crude again. But Volkswagen fell on a report that a decision on a merger with Porsche could be delayed. The euro has been at a six-week high against the dollar which has fallen recently as investors become more bullish about recovery wading back into riskier assets and higher-yielding currencies.
Monday 20th July