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Friday 8th May

Friday 8th May
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European shares finished over two percent higher.

Financials gaining after the results of government stress tests on US banks were not as bad as expected Part-nationalised British lender Royal Bank of Scotland rose almost 14 percent after it posted only a small first quarter loss. Swiss Re soared 17.8 percent as brokers raised price targets on the insurer following its better-than-expected first-quarter results this week. Drugmakers, including Novartis and Roche, were in the doldrums. Commodity shares also advanced. Crude oil prices were boosted by expectations that the recovering global economy might increase energy demand. The euro is strong having been up over $1.35.
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