European stocks closed at their highest level in seven weeks yesterday, Friday, after European leaders adopted new measures to address the debt crisis of the region, which enhanced the major stock indexes and the banking sector.
But many doubt the continuation of this rally because of uncertainty surrounding how to implement some of the proposals approved by the European Union Summit, on Friday, such as helping troubled banks and intervene in bond markets.
The FTSEurofirst 300 of top European shares was up 2.64% at 1021.39 points, its highest closing level since the record of 1022.52 points on May 11, jumped EURO STOXX 50 index of leading shares of 4.96% to 2264.72 points.
Ion said Marc Valaho fund manager at Investec Claire, "I sell at this time, there are still many obstacles. I prefer to be in safety," and added that he sold some of its centers in the stock indices, Italian, French and German.
In parts of Europe Index FTSE 100 was 1.4% and the CAC 40 index jumped 4.75% French and the German DAX index 4.3%.
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