Reply #36: Strong run keeps bourses at 6.5 year highs [View All]

[Ghost Dog]

http://mwprices.ft.com/custom/ft2-com/html-story.asp?pulse=true&siteid=ft&dist=ft&guid=%7Bf0326c89%2Da643%2D4f7b%2D8d15%2D1aebc030c17b%7D

European equity markets reached fresh 6.5 year highs on Wednesday, helped by strength in the mobile telecoms, car and software sectors. The FTSE Eurofirst 300 rose 11 points, or 0.7 per cent, to 1,609.3 while Germany’s Xetra Dax gained 76 points, or 1 per cent, at 7,735.8 and the French CAC 40 added 30 points, or 0.5 per cent, at 6,120.2. Moeller Maersk was a leading gainer, up 4.7 per cent to DKr66,700, after Morgan Stanley said it expected to see a sustained recovery next year in the container shipping market. Menno Sanderse of Morgan Stanley said each 1 per cent increase in freight rates could contribute up to $200m in earnings and forecast DKr20bn for net profits this year for Moeller compared to the company’s own forecast of DKr17bn.