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European stocks see early rally, Asia slumps
European stock markets rallied by over 1% in opening deals this morning, clawing back some of their recent dizzying losses, but sentiment remained plagued by global economic worries. London's FTSE rose 1%, while the Frankfurt DAX added 1.2%and in Paris the CAC 40 won 1.4%. Elsewhere, the Milan stock market gained 1.7% and Madrid climbed by 1.5% in value. European stock markets had slumped to a 26-month closing low yesterday after a gloomy economic outlook from the US Federal Reserve and weak data from China and Europe prompted more fears about growth in the world economy. London's FTSE closed 4.7% lower, while the ... (full story)
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