The Portuguese stock exchange bounced back today as it recovers from Black Monday with the PSI 20 gaining 4.16%, having lost losing nearly 8% earlier in the week.
Investors worldwide have been responding to the stabilisation plans and stimulation of the economy by the Chinese government with the Chinese central bank dropping interest rates for the fifth time since last November.
This has reduced the amount of money that China's banks are required to keep as reserves. The Chinese government also has been printing money to inject into its economy.
Investors have started to dive into stocks as they reached recent record lows, driving a recovery in the world’s stock markets.
Europe’s exchanges started the day with strong gains that were maintained throughout trading.
The European Stoxx Europe 600 index was up 3.36%, in its biggest rise since September 2011.
In Germany, the DAX rose 4.67%, the French CAC 40 gained 4.07% and the British FTSE 100 rose 2.44%.
In the US the Dow Jones Industrial Average climbed 2% and the S&P 500 gained 2.1%.
Commodities and oil have started to recover from sharp Monday falls. World market traders are paying close attention to events in China where the market today was down a further 7% but where government moves at least have served to settle international markets.
Comments
The British must comprehend that almost every time you read that 'the UK also has this problem, perhaps worse than Portugal' you can be sure it is a Portuguese masquerading as a Brit.
Equivalence postings never make clear the substantially different histories, cultures and relative positions in both world history and the world today. Or explain where the Portuguese get their sense of inferiority to us from. As events in their history books are not in our history books.
A Brit needs to understand that, due to Portugal's history, whilst an equivalent law to ones back in the UK exists in Portugal - there is a tradition of the elite being 'impugn' to it. ie ignoring it. And the police and judiciary not seeing a problem with this. But it applies to us foreigners!
For another example - in this discussion about stock markets you will never ever hear a Portuguese informing us that the 3 trillion $ in size UK stockmarket clawed back gains in the last day or so that were more than the entire 60bn $ Portuguese stockmarket.