Stocks rise around the world, following the biggest rise on Wall Street in four years. But as Ciara Lee reoports it was news from the U.S. Federal Reserve not China that sparked the boost and there are still worries about Asia.
Rising across the board - global stocks finally get a boost. It follows days of fears over China's economic health. Thursday's gains were mostly thanks to a U.S. Fed policymaker saying an interest rate increase next month "seems less compelling". Increased appetite for risk also lifted crude oil prices further from recent recent lows. In early European trading, the FTSEuroFirst 300 was up 2.5 percent Shares in Germany, France and Britain all rose more than 2 percent. Peter Dixon is from Commerzbank. (SOUNDBITE) (English) CHIEF ECONOMIST AT COMMERZBANK, PETER DIXON, SAYING: "There comes a point where investors think this is enough. We need to rethink the situation. And obviously European markets are trading in the green at the moment. That's a reflection of the fact that investors realise that the collapse in Chinese markets is not necessarily going to have a huge degree of implications for the European markets in general." Some calm also returned in Chinese markets. The two main indices surged more than 5 percent, snapping a five-day losing streak that had wiped 20 percent off market value. Hong Kong broker Francis Lun says investors there are used to swings. (SOUNDBITE) (English) CEO OF GEO SECURITIES, FRANCIS LUN, SAYING: "The boom market and bear market every five years. So nobody will bet their life savings on the stock market. So I think for Hong Kong the damage is controlled. So nobody lose their lives on it and I don't think anybody needs to jump." But some investors in mainland China were badly stung and many are predicting more volatility as the world's second-biggest economy continues to slow.