The release of the US GDP figures has resulted in the rebounding of the European markets, an expert has claimed.
The release of the US GDP figures has resulted in the rebounding of the European markets, an expert has claimed.
Joshua Raymond, market strategist at City Index, claims that this has resulted in the week ending with a positive note.
He suggests that a fall of eight per cent in the FTSE 100 and nine per cent on DAX has been excessive.
“It has been an interesting change of tune in the markets today and the fact that equity gains continued to grow throughout the session helps to reinforce the fact that confidence has not been significantly damaged by recent losses,” he stated.
Mr Raymond claims that once the market begins to regain momentum then hedge funds will be encouraged to return to investing.
TD Waterhouse chief executive Angus Rigby recently claimed that the economic recovery would spur retail investors into trading more stock, predicting a frenzy of firms would begin buying shares.
