World markets surge as US data boost recovery hope

April 2, 2009 13:17

World stock markets soared Thursday, with Hong Kong's benchmark vaulting more than 7 percent, as stronger-than-expected US economic figures boosted confidence that the world's largest economy is on the mend. A mood of optimism also pervaded the markets as leaders of the world's 20 biggest developed and developing countries met to find a way out of the economic crisis. Huge gains in Asia and a strong open in Europe followed an overnight surge on Wall Street and extended last month's rebound amid tentative signs of stabilization in the hard-hit global economy and banking industry. In European morning trading, Britain's FTSE 100 rose 3 percent to 4,072.46, Germany's DAX surged 4.6 percent to 4,310.82 and France's CAC 40 jumped 4 percent to 2,951.75. "There's some renewed optimism around the G-20 meeting today and the possibility there might be something structured coming out of it," said Richard Hunter, analyst at Hargreaves Lansdown Stockbrokers.

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