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Article: World stocks recover on resilient US earnings
- Article from:
- AP Worldstream
- Article date:
- May 18, 2009
- Author:
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World stock markets rose Monday as investors regained some optimism about the U.S. economy after Lowe's, the second biggest U.S. home improvement chain, said first-quarter profit fell less than feared.
The report boosted hopes among investors that the worst of the U.S. recession is over and offset weak earnings news out of Asia, which had weighed on markets early in the day. Standing out Monday was India's stock market, which vaulted more than 17 percent higher on the results of elections over the weekend.
Germany's DAX closed up 2.4 percent at 4,851.96 and Britain's FTSE 100 was 2.3 percent higher at 4,446.45. France's CAC 40 rose 2.4 percent to 3,245.39. All of them had ...