European Markets Recover

European Markets Recover

European shares increased in the early trading sessions and markets across the Europe were buoyant, mainly due to the recovery in the commodity prices.

The markets in the UK also gained, as most of the mining and energy shares profited due to the increase in the prices of metals and oil.

The FTSE was up by 76.15 points or 1.4% to reach 5,408.54 points. The index was down 33.39 or 0.6% at 5,332.39 points last weekend, after weak numbers from the U. S. raised doubts about the global economic recovery.

The U. S. markets were also down in the first half of the day, but recovered in the later half due to the weak data from the U. S. economy.

The prices of mining stocks also recovered after the decline in the price of the U. S. dollar.

The shares of Lonmin gained by 2.7% and Randgold Resources and Vedanta Resources, also posted an increase of more than 2%.

The shares of oil major BP also gained by 2.1%. The Company confirmed that it has been able to control leakage in its oil well in the Gulf of Mexico.

The share prices of Royal Dutch Shell also increased by 1.7%.

The banking shares also posted gains and Barclays gained 2.5%. Shares of insurance Companies also gained with Aviva increasing by 2% and Prudential shares gained by 2.7%.

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