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Market Update : 
Second Day Rally in Financials
Author: 123jump.com Staff
123jump.com
Last Update: 5:22 PM EDT April 02 2008


European financial stocks rallied for the second day on the hopes that the regional banks are strong to withstand the ongoing credit market crisis in the U.s. Banks, insurance and brokers rallied. WestLB, third largest state controlled bank in Germany reported 2.1 billion assset write down in subprime loan portfolio. French caterer Sodex first half revenue rose 4% and earnings. AirFrance KLM and Alitalia broke off talks after they failed to agree on union proposal.

 

 

 

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