European stock markets have ended the week with a bang.
Here’s the scoreboard at markets close:
- FTSE 100: +3.07%
- DAX: +2.40%
- CAC 40: +2.45%
- Euro Stoxx 50: 2.43%
The rally came after a dreadful showing for markets on Thursday. Volatility is the dominant force in markets right now.
Friday’s rally feels like a dead cat bounce. There isn’t much positive news around — German industrial numbers disappointed and other than that there’s been little economic news.
But it seems like traders just think Thursday’s fall was overdone. Time to snap up bargains.
Rolls-Royce was one of the biggest risers in London, bouncing over 14% after it held 2016 forecasts. Deutsche Bank has also rallied 12% in Frankfurt after pledging to buy back $5.4 billion worth of its own debt.
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