European stocks jump at open
LONDON, Oct 4, 2022 (BSS/AFP) - European stocks extended gains at the open on
Tuesday after gains elsewhere, as weak US data tempered Federal Reserve rate
London's benchmark FTSE 100 index rallied 1.4 percent to 7,002.51 points
compared with Monday's closing level.
In the eurozone, Frankfurt's DAX index won 1.9 percent to 12,442.11 points
and the Paris CAC 40 jumped 2.3 percent to 5,926.20.
"Weaker-than-expected manufacturing data from the US was taken as a signal
that rising interest rates may be having some effect on cooling demand for
goods," said Interactive Investor analyst Richard Hunter.
"This in turn led to hopes of a Federal Reserve pivot, even though the
spectre of inflation remains firmly at the top of their stated to-do list."