Thin trading

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PARIS: European shares rallied yesterday, led by Swiss bank UBS and by oil major BP.

Volumes were thin, however, with a massive storm hitting the eastern United States forcing Wall Street to remain shut for a second day.

At 1225 GMT, the FTSEurofirst 300 index of top European shares was up 0.7 per cent at 1,100.90 points after rising to a one-week high of 1,103.02. The eurozone’s blue-chip Euro STOXX 50 index was up 1.1 per cent at 2,505 points.

“We’re a bit lost without Wall Street, frankly. It’s hard to read anything in this market because volumes are so low,” said Alexandre Tixier, technical analyst at TradingSat, in Paris.

Around Europe, the UK’s FTSE 100 was up 0.8 per cent, Germany’s DAX up 0.9 per cent, and France’s CAC 40 up 1.0 per cent. Reuters

Business Times : marketwatch

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