LONDON — Europe’s stock markets continued to build on the gains they made Tuesday, and were all in positive territory by mid-morning today.
The FTSE 100 in London rose 0.5 percent to 5,445.79, the CAC 40 in Paris was up 1.1 percent to 3,087.80, the DAX in Frankfurt rose 0.7 percent to 5,887.75, while the FTSE MIB in Milan gained 0.7 percent to 15,076.08.
The Nikkei 225 in Japan closed up 1.5 percent to 8,459.98, and the Hang Seng Index in Hong Kong closed with a 1.9 percent increase to 18,416.45.
One factor said to be buoying the European markets was the release of low interest rate three-year loans by the European Central Bank this morning. Banks in the euro zone took loans totaling 489 billion euros, or $637 billion at current exchange, following the funds’ release. It is said that the loans could be used to buy sovereign debt, and it’s hoped that the increased access to funds will stave off the threat of another credit crisis in Europe.
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While shares in banking groups such as Lloyds Banking Group, Royal Bank of Scotland Group and Commerzbank AG led the gains, fashion and luxury stocks had a mixed morning.
Among the risers were Mulberry, up 6.4 percent to 15 pounds, following the appointment of a new chief executive from Hermès. Richemont increased 1.4 percent to 46.97 euros, and Aeffe gained 3.7 percent to 0.60 euros. Those that fell included Marks & Spencer, down 1.2 percent to 3.05 pounds; Burberry, down 0.1 percent to 11.67 pounds, and Benetton, down 1.9 percent to 2.92 euros.
The pound traded at $1.55, while the euro traded at $1.30.