Markets open confidently

Despite European shares rising, there are also warnings that the European debt crisis is a threat for which there is still no comprehensive solution.

In the UK, the FTSE was buoyant when it opened this morning; meanwhile, the markets across Europe and elsewhere all recorded rises based on confidence in the eurozone.

John Douthwaite, CEO of SimplyStockbroking, said, “There has been a great deal of activity with investors returning with a renewed assurance that progress is taking place in Europe.

“Banking shares have seen increases but I’m still not convinced that there aren’t safer areas to invest in with a potential catastrophe still on the cards. European policymakers are busy thrashing out ideas to tackle the widespread debt problem but one wonders whether the funds are available to follow them through.

“The burden of debt in Greece alone is still substantial and any concrete plan to prevent a default will be hugely beneficial for financial stocks. Until that arrives, however, any confidence could still prove to be misplaced.”

 

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