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Markets make further gains as Merkel and Hollande pledge euro support

Stockmarket 480

European markets have all ended the day higher on anticipation of action from policymakers to protect the troubled euro currency.

German chancellor Angela Merkel and French president Francois Hollande have followed European Central Bank President Mario Draghi’s lead in pledging to do all they can to help the euro.

The French Cac 40 and the German Dax were up 2.3 and 1.6 per cent respectively on Friday, while in Spain, the Madrid IBEX was up 3.9 per cent. The FTSE Eurofirst 300 was also up 1.3 per cent at close.

The FTSE 100 also posted gains of almost 1 per cent on Friday, with Barclays leading the way after its 13 per cent increase in pre-tax profits to £4.2bn beat analysts’ expectations.

Barclays’ share price ended the day up 8.72 per cent, well ahead of Weir Group, which was the second biggest gainer with its share price rising 3.7 per cent.

Shares were also up in the US. At 17.20 BST, the Dow Jones was up 0.8 per cent and the Nasdaq was up almost 1.3 per cent.

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