European markets rejoice global rally

August 27, 2015

European indices rebounded sharply on Thursday as renewed optimism hit the markets following the US and Asian stocks rally. Stocks in Asia rallied on Thursday, with the closely-watched Shanghai Composite index jumping 5.34% at the market close after a huge sell-off recently, boosted by the latest steps from the Chinese central bank.

The central bank cut the RRR by 50 basis points, and slashed both the deposit and lending rates by 25 basis points in response to the latest huge market sell-off.

Germany’s benchmark, the DAX was the biggest gainer so far as the broadly weaker euro continued to boost the exports stocks higher. Shares of German healthcare company Fresenius climbed 5.63% after the company said it will raise the dividend payout for this year by over 20%.

Germany's DAX 30 index rallies over 3% at 10,302 while the UK benchmark FTSE 100 is up 2.34% at 6,120. Among the other indices, the French CAC 40 index is up 3% and trades at 4,636, and the pan-European Euro Stoxx 50 advances nearly 3% at 3,269. 

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