FTSE 100 rallies on China move

Note: This section contains information in English only.
Source: Marketwatch
© Scanpix/Reuters

FTSE 100 Index rocketed on Wednesday after People's Bank of China lowered banks' reserve requirements by 0.5 p.p. Resource and mining companies reacted immediately as the second biggest economy in the world is an important consumer of natural resources. BHP Billiton PLC gained 1.7%, Xstrata PLC added 2.9% whereas Rio Tinto PLC edged up 1.6%. Financials HSBC Holdings PLC and Barclays PLC managed to offset their losses from downgrading on China's report gaining 0.3% and 3.6% respectively. On the downside Cairn Energy PLC declined 4% after closing 2 Greenland's exploration wells.

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Wed, 30 Nov 2011 14:36:52 GMT

DAX surges on central bank decision

Germany's DAX 30 Index rallied on Wednesday after international central banks including ECB and US Federal Reserve declared they will lessen pressures in the markets. As a result, DAX 30 jumped 4.2% to 6,038.26. Index was boosted by German car giants as they are heavily dependent on economic growth. BMW AG advanced 2%, Volkswagen AG added 2.4%, while Daimler AG soared 2%.

Wed, 30 Nov 2011 14:36:25 GMT

Poland economy expands more than expected

In third quarter Poland's economic growth rate was higher than was predicted by economists. The growth of gross domestic product was mainly accelerated by surging private consumption, investment and depreciated home currency which helped to improve exports. GDP rose 4.2% on a yearly basis compared to 4.3% in 2nd quarter. Polish factory output added 7.7% on a yearly basis.

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