Markets surge on US date

Frankfurt DAX: 2948.88 (-6.07)

Frankfurt DAX: 2948.88 (-6.07)

The German share index pushed close to the 3,000 level in after-hours trading after US consumer price data came in according to forecasts, easing yet further the lingering fears of a US interest rate hike. The IBIS DAX hit a record 2,984.32, before closing at 2,978.

Paris CAC-40: 2402.14 (+40.87)

The French index stormed to close firmly above the psychological 2,400 level, as benign US indicators encouraged buying of French assets, traders said.

The market was already well supported on bullish profit expectations and low rates for 1997. When US inflation and retail sales data were reported in line with expectations, a buying spree in bonds and equities was triggered. Milan Mibtel: 12080 (+404)

Italian shares rapidly resumed their positive trend after some early weakness when the US data prompted a rise in Wall Street and buyers soon returned to Milan to drive stock prices higher, dealers said.

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