Bouncing nearly four percent after the bloodbath of the last few days, although Frankfurt rose by more, over five percent, and Paris and Moscow also made healthy gains.
It ended three days of losses, with oils and mines doing well, as did a number of banks; standard charterd, BNP Paribas, Credit Suisse, Barclays and Deutschebank all rose. But news on fundamentals remains dismal, with job agency Addeco reporting an unexpected loss in the final quarter, and the service sector around Europe continuing to shed jobs. One company ended last year better than expected – Adidas. So now we know why no-one’s buying cars. Everyone’s running to work.