European shares bounce back from losses

<p>European exchanges are ending the week strongly.</p>

European stock markets have bounced back today (June 21st) after sustaining heavy losses yesterday following an announcement from the US Federal Reserve.

Chairman of the Fed Ben Bernanke suggested the US asset purchasing programme could be brought to an end from next year and investors responded negatively to the news.

But European markets are performing better today, with the FTSE 100 down by just 0.13 per cent at 15:35 BST, while the Cac 40 was 0.42 per cent lower and the Dax had lost 0.94 per cent on the start of the day.

Speaking to BBC News, Neil Marsh, strategist at Newedge, said: "We've had a bit of a correction, and even now I think the correction looks overdone, so I am still fairly bullish."

Asian stocks were mixed earlier in the day. Although many of the continent's leading exchanges fell sharply at first, they recovered some ground later on and the Nikkei avoided a fifth successive weekly drop by recording gains.

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