European Markets Rally; French Bank Hit by $7B Fraud
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European markets rallied this morning and Asian indexes generally moved higher as efforts to shore up the U.S. economy helped begin to calm a volatile climate for global stocks.
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Europe&#39;s main stock markets rebounded on Thursday, mirroring an overnight rally on Wall Street.
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European stock markets rebounded on Thursday following an overnight rally on Wall Street.
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The trader accused of making fraudulent transactions that cost Societe Generale &#8364;4.9 billion ($7.2 billion) hacked computers and used "several techniques of fraud," the French banking giant says.
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French bank Societe Generale   disclosed one of the biggest alleged frauds in financaal  history on Thursday, adding to a wave of gloom surrounding  world markets battered by credit market losses.
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European stock markets mainly rose on Wednesday, with Frankfurt's DAX 30 index breaching 7,000 points for the first time since November 2000, after another record performance on Wall Street.
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European markets surged Thursday as a stunning comeback on Wall Street a day earlier heartened investors worried over the outlook for the U.S. economy.
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European shares ended higher on Monday, buoyed by takeover activity as the London Stock Exchange hit a record high after Euronext made a bid approach, while drug makers recovered from a sharp fall.
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European equity markets surged higher on Thursday in their best day since the bull market began in March 2003 as stocks shook off news of a EU4.9bn fraud at French bank Soci&eacute;t&eacute; G&eacute;n&eacute;rale.
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European equity markets were higher on Wednesday, lifted by rallying financial stocks and following gains in the US and Asia.
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Global share prices rocketed Thursday, though fears of an economic slowdown lingered and markets were nervous as Societe Generale revealed a massive 7.15-billion-dollar fraud-related loss.
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LONDON: European stock markets rallied yesterday as investors appreciated gains in New York and Asia and digested a flurry of company news.
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LONDON/PARIS  - Societe Generale's shock disclosure of a fraud that lost it $7 billion has left investors wondering about a link between the fiasco and Monday's European stock market rout.
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European stocks were higher on Monday, with heavyweight pharmaceutical, oil and technology stocks leading the charge. The big news early on Monday was that pan-European bourse operator Euronext had confirmed
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Europe's year-end rally gathered momentum this week with bid speculation in the banking and retail sectors helping equities reach a fresh 5&frac12;-year high on Friday.
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Police on Saturday questioned the young trader blamed for a massive fraud that cost France's Societe Generale bank more than $7 billion, as the country's president accused global financial institutions of having "gone haywire" and urged common sense.
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European stock markets made early gains on Monday, led by advances in the banking sector.