European markets open postive
European markets open postive European stocks opened positive on Tuesday (Sep. 18, 2007) after U.K. government announced that it will guarantee all deposits held by savers at Northern Rock. Further investors gained confidence after Bank of England distributed emergency loans up to USD 8.8 billion to U.K banks. The move by the BOE was to stabilize the financial stocks which was going through a rough phase in the past few days. Northern Rock, Alliance & Leicester and Bradford & Bingley rallied amongst financial stocks. Royal Bank of Scotland and Deutsche Boerse also gained. UK`s FTSE 100 gained 41.00 points, or 0.66%, to trade at 6,223.80. French benchmark index, CAC 40, gained 12.04 points, or 0.22%, to trade at 5,451.41. Germany`s DAX gained 1.39 points, or 0.02%, to trade at 7,481.24. Italy`s MILAN MIB30 gained 136.00 points, or 0.35%, to trade at 38,820.00.
