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eurostocks surge------

  1. longrunsthefox

    16,307 Posts.
    Eurostocks Surge, Investors Bet War in Final Phase
    Mon April 7, 2003 03:38 AM ET
    LONDON (Reuters) - European shares rocketed on Monday morning as investors bet that the push by U.S. troops into central Baghdad was a signal the final phase of the Iraq war was underway.
    By 3:20 EDT the FTSE Eurotop 300 index was up 3 percent at 820 points, leaving the pan-European benchmark up about 19 percent above its mid-March six-year closing low.

    Bourses across Europe clocked up gains of between 2.3 percent in London and 4 percent in Frankfurt and 4.5 percent in Amsterdam.

    U.S. stock index futures were up about 2 percent, indicating that Wall Street was headed for an opening rally too.

    Crude oil futures sank as the market expected a swifter end to the conflict in the oil-rich Middle East. The dollar surged while gold prices fell as safe-haven bets in the yellow metal were unwound.

    Volatile insurance stocks were among the strongest, with Germany's Allianz up 9.5 percent at 13.87 euros.

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