China’s €460bn package helps markets

EUROPEAN markets rallied strongly in early trading yesterday following China’s decision to invest almost €460bn to stimulate its slowing economy.

Dublin’s Iseq index recorded good early gains and was up 4.6% by early afternoon. But some of the surge was lost as Wall St opened lower.

This followed predictions that Goldman Sachs would post its first quarterly loss and Google’s sales would be hurt by the slowing US economy.