European markets rallyComments
European markets on Thursday continued to rally, reflecting the gains on Wall Street, which saw its biggest single day rise for four years on Wednesday.
In London the FTSE closed up 3.56 percent. The DAX in Frankfurt was up 3.18 percent. Paris rose 3.49 percent and in Zurich SMI closed trading up by 3.09 percent.
“In European markets they’re trading in the green at the moment”, said Peter Dixon, Chief Economist at Commerzbank. “That’s a reflection of the fact that investors realise that the collapse in Chinese markets is not necessarily going to have a huge degree of implications for the European markets in general.”
The volatile nature of world markets in recent weeks means it will take more than a one day rally before anyone can say they have returned to normal.