Europe is bouncing back
Europe's stock markets are popping on Friday morning, fighting back from a huge rout in prices yesterday.
A few minutes after the open at 8:00 a.m. GMT (3:00 a.m. ET), all of Europe's biggest bourses are trading in the green, with the FTSE MIB in Italy once again the biggest mover. The MIB has been up and down like a yo-yo so far in 2016, and has frequently seen the largest rises and falls during European trading. Here's how the MIB is doing right now:
In Britain, the FTSE 100 is up by 1.4%, led by aerospace engineering firm Rolls-Royce, which today cut its dividend for the first time in 24 years. Shares in the company are up between 13-14% in early trading. Here's how the FTSE looks:
Elsewhere, other indexes are also on a bit of a charge this morning. Here's the scoreboard:
- Germany's DAX 30 - up 1.36%
- France's CAC 40 - up 1.62%
- Spain's IBEX 35 - up 1.59%
- Euro Stoxx 50 - up 1.28%
Europe is bucking the trend set by Asian markets overnight. The Nikkei in Japan, the Hang Seng in Hong Kong, and KOSPI in South Korea all saw big losses on Friday as markets in the East get back to normal following a long break for the Lunar New Year.