Reply #40: Bourses stage recovery as Wall Street gains [View All]

[Ghost Dog]

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European bourses pared losses on Friday afternoon after US data showed the year-on-year rise in consumer inflation in May was the slowest in over three years, supporting the case against further interest rate rises in the US. In company news, Swatch, the Swiss watchmaker, gained 2.9 per cent to SFr3495 after Deutsche Bank raised its rating on the company from ”hold” to ”buy” and lifted its price target from SFr320 to SFr387. By the close, the FTSE Eurofirst 300 was up 0.6 per cent to 1,604.64, Frankfurt’s Xetra Dax rose 1.1 per cent to 8,007.32, the CAC 40 in Paris put on 0.8 per cent to 6,054.93 and London’s FTSE 100 closed up 0.6 per cent at 6,607.9