European shares rebound after seven days of losses

August 9, 2011 10:43


Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user uxperience almost completely free of ads
  • Access to our Premium Section and our monthly magazine to learn Hebrew, Ivrit
  • Content from the award-winning Jerusalem Repor
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later Don't show it again

LONDON - European shares rose sharply on Tuesday as investors looked for bargains in stocks that had dropped for seven straight days on worries about major economies falling back into recession.

At 7:14a.m. GMT, the FTSEurofirst 300 index of top European shares was up 1.6 percent at 951.02 points, after falling 4 percent on Monday and hitting a two-year low.

"The markets' fall (in previous sessions) implies huge falls in corporate earnings, which is over-egging the pudding. On one level, you could say markets have become oversold, and valuations are very attractive," said Jeremy Batstone-Carr, strategist at Charles Stanley.

The STOXX Europe 600 Banking Index rose 2.2 percent, having fallen sharply in recent days.

On Monday, the S&P 500 suffered its biggest fall since December 2008, falling 6 percent, after the United States lost its triple-A credit rating.

Related Content

Breaking news
July 19, 2018
White House rejects Putin proposal to interview U.S. citizens