European stocks markets soar again

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Source: CCTV.com | 11-25-2008 13:54

Stocks were on the rise in Europe, echoing US markets on Monday.

The rebound is being fueled by a US-government-led rescue plan for Citigroup and a UK pre-budget report in the United Kingdom that highlights tax cuts and spending stimulus plans.

Stock brokers go about their business at the stock exchange in the central German city of Frankfurt/M. Wall Street and European stock markets soared Monday as investors cheered a massive bailout for US banking giant Citigroup and the prospect of more government money to ease the pain of  recession.(AFP/DDP/Martin Oeser)

On Monday, the London stock market ended higher, with the FTSE 100 index adding nearly 10 percent. Meanwhile, the CAC-40 was up over 10 percent.

The German stock benchmark DAX soared nearly 10 and a half percent.

It was propelled by a government confidence-building move to offer property lender Hypo Real Estate a 20 billion-euro debt guarantee. The jump in German stock prices was the biggest in about four weeks.

Editor:Zhang Pengfei