04 Oct 2022, 13:51

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 
hike fears.

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."