European shares charge ahead after Wall Street rally

FRANKFURT - European shares charged out of the gates on Tuesday after US and Asian stocks rocketed up on renewed hopes that global coordinated action will help to shore up investor and economic confidence.

By (DPA)

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Published: Tue 14 Oct 2008, 1:25 PM

Last updated: Sun 5 Apr 2015, 2:18 PM

Within a few minutes of opening, Europe's blue-chip Stoxx 50 had climbed 3.1 per cent to 2,393 points.

The jump in European stocks came in the wake of New York's Dow Jones Industrial Average chalking up its biggest one-day points gain in history Monday, rising 936.42 points, or 11.08 per cent, to close at 9,387.61.

This also helped to power solid gains for bourses across the Asian-Pacific region with shares in Tokyo closing up 13 per cent and by more than 4.0 per cent in Hong Kong.

Stocks in Sydney gained 3.7 per cent, underpinned by an Australian government economic stimulus package.

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