French Bond Auction Lifts Investors' Spirits

European stock markets rose Monday, after a successful sale of French Treasury bills reassured investors in the wake of the country's credit downgrades late Friday.

The session was investors' first opportunity to react to Standard & Poor's cut to the credit ratings of nine euro-zone nations, including France, Italy and Spain, although speculation of the moves had swirled late Friday.

U.S. markets were closed, subduing trade.

The benchmark Stoxx Europe 600 index rose 0.8% to finish at 251.12, its first gain in four sessions and its highest close since Aug. 3. Among national benchmarks, France's CAC-40 index gained 0.9% to 3225.00 and Germany's DAX index added 1.3% to 6220.01. The U.K.'s FTSE 100 index rose 0.4% at 5657.44.

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- Posted: 2012-01-16 21:02:03

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