GLOBAL EQUITY UPDATE: European Stock Markets Climb At Open

European stock markets rose solidly at the open Friday following a strong recovery in Asia at the end of week of big losses for global equities on high inflation concerns.

London’s benchmark FTSE 100 index grew 0.6 percent to 7,002.36 points.

In the eurozone, Frankfurt’s DAX 30 index climbed 0.6 percent to 15,290.44 points and the Paris CAC 40 gained 0.6 percent to 6,323.24.

Tokyo’s Nikkei closes up over 2.3% after rout

Tokyo stocks closed sharply higher on Friday, extending US rallies on Wall Street after a rout in the previous session.

The benchmark Nikkei 225 index rose 2.32 percent, or 636.46 points, to 28,084.47 while the broader Topix index was up 1.86 percent, or 34.38 points, at 1,883.42 at the close.

“Rises in US futures and the Chinese market are prompting further gains in the Japanese market” after overnight Wall Street gains supported early Tokyo trade, Daiwa Securities said in a commentary.

The dollar fetched 109.47 yen in Asian trade, against 109.44 yen in New York late Thursday.

Honda was ended up 1.00 percent at 3,327 yen and Japan Post was up 2.48 percent at 945.6 yen ahead of their earnings reports.

Toshiba was 0.89 percent higher at 4,510 yen after it said it had returned profit in the financial year to March.

Electronics were among winners, with Sony closing up 2.36 percent at 10,225 yen, Panasonic advancing 0.75 percent to 1,215.5 yen, and Fujitsu adding 4.18 percent to 16,805 yen.

Hong Kong stocks close higher

Hong Kong shares finished a volatile week on a strong note Friday, tracking a rebound in New York following a sell-off fuelled by inflation fears.

The Hang Seng Index climbed 1.11 percent, or 308.90 points, to 28,027.57.

The benchmark Shanghai Composite Index rose 1.77 percent, or 60.84 points, to 3,490.38, while the Shenzhen Composite Index on China’s second exchange added 1.80 percent, or 40.57 points, to 2,293.87.

European stock markets climb at open

European stock markets rose solidly at the open Friday following a strong recovery in Asia at the end of week of big losses for global equities on high inflation concerns.

London’s benchmark FTSE 100 index grew 0.6 percent to 7,002.36 points.

In the eurozone, Frankfurt’s DAX 30 index climbed 0.6 percent to 15,290.44 points and the Paris CAC 40 gained 0.6 percent to 6,323.24.