ISEQ claws back losses as eurozone fears abate

THE ISEQ yesterday managed to claw back much of the losses it incurred on Tuesday, after fears for the future wellbeing of the eurozone abated.

Praise for the EU’s attempts to solve the eurozone’s problems from US Treasury Secretary Timothy Geithner on his visit to London yesterday, coupled with the OECD raising its forecasts for eurozone growth, gave European stock markets a much-needed shot in the arm.

London’s FTSE index rose by 2% to once again breach the 5,000 point mark; the CAC in Paris was up by 2.3% at just over 3,400 points and Frankfurt’s DAX gained 1.6% to reach 5,758 points.