Stocks, euro recover as US data offset debt woes

Stocks in Europe and on Wall Street rebounded Wednesday as a bigger than anticipated fall in weekly U.S. jobless claims helped boost investor sentiment following days of negative news related to Europe's debt crisis.

The improvement in markets also helped the euro recoup some recent lost ground -- when investors have a greater appetite for risk, stocks usually get a boost, while the dollar loses some of its safe haven shine.

In Europe, the FTSE 100 index of leading British shares closed up 75.82 points, or 1.4 percent, at 5,657.10 while Germany's DAX surged 118.80 points, or 1.8 percent, to 6,823.80. The CAC-40 in France ended 23.19 points, or 0.6 percent, higher at 3,747.61.

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- Posted: 2010-11-24 21:54:42

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