Word: frankfurting
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...Europe's leading bourses also began stronger, with London's FTSE 100 1.67% higher nearing mid-day Monday, while Paris CAC 40 gained 1.46% and Frankfurt's DAX up .8%. Futures trading in the U.S. similarly pointed to 2.4% opening advance Monday on Wall Street, though that early action could change as a series of company earnings figures are released, giving investors a better idea of how quickly U.S. economic growth has slowed...
...gains in Singapore and China. Hong Kong's Hang Seng remained flat, however, while South Korea and Australia slightly slumped. Inspired by that trend - as well as Wall Street's rebound from early losses Thursday to finish 4.7% up - European markets began Friday higher with London's FTSE 100, Frankfurt's DAX, and Paris' CAC 40 all by more than 4% - before receding by midday to hover just above opening levels...
...crash - trading Thursday elsewhere in Asia pushed Hong Kong's Hang Seng down 4.8%, South Korea's down 9.44%, and Singapore Straights Times Index down 5.5%. Europe faired no better, with London's FTSE 100 and Paris' CAC 40 indices reflecting mid-morning declines of nearing 2.5%, and Frankfurt's Dax off 1.3%. Market commentators warned that trading could see-saw throughout the day, but expected European bourses to close down and Wall Street to open moving in the same direction...
...Tokyo's Nikkei - which ended the day 1.1% higher - bourses across Asia all slumped. Hong Kong's Hang Seng lost 5%, for example, following its 13% surge earlier in the week. Europe suffered similar shrinkage as London's FTSE 100 slipped 3.5% by noon, while Paris' CAC 40 and Frankfurt's Dax both shedded 3.1%. Some of that slippage, market analysts said, came from profit-taking on gains posted earlier in the week. But the major factor came from broader concern and confusion about just how bad - or not - the expected general economic downturn will...
...Bush's announcement of a new government plan to inject $250 billion of capital in exchange for equity into at least nine American banks. The move to further stabilize the U.S. finance market prodded rising European indices to move still higher Tuesday afternoon, with both Paris' CAC 40 and Frankfurt's Dax up 4.5% and London's FTSE 100 up 4.9%. The trio boomed with 11.2%, 11.4% and 8.8% surges respectively during the previous session...