European shares rebound strongly

October 13th, 2008 - 3:10 pm ICT by IANS  

Frankfurt, Oct 13 (DPA) European stocks rebounded strongly Monday from last week’s dramatic sell off after a recovery in shares across the Asian-Pacific region and stepped up political action to shore up investor confidence.After European equities plunged last week by about 20 percent last week, Europe’s blue-chip Stoxx 50 climbed more than 4.0 percent to 2182 in early trading.

Leading the rebound in European shares were banking stocks which chalked up gains of about 20 percent in early Monday trading.

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