By DPA
Frankfurt : A convincing close to Wall Street combined with a strong showing by shares across Asia helped to spark a big rebound in European bourses Thursday.
By late morning, Europe’s blue-chip Stoxx 50 had climbed by more 5 percent to 3249 points, essentially reversing the losses of the previous day.
Thursday’s rise was even more pronounced on several national bourses with Frankfurt’s DAX index charging ahead by more than 6 percent after a particularly torrid trading week on fears that the global share meltdown would trigger an economic crisis.
Europe’s premiere stock market in London climbed by almost 3 percent, while Paris’ CAC index accelerated by more than 4 percent.
The share recovery also extended to emerging Europe with a 4.44 percent rise in Moscow, a 2.72-per-cent increase in Warsaw and a 4.4 percent in Prague.