European stocks rose in early trade on Friday
European stocks rose in early trade on Friday, off the back of the European Central Bank's decision to raise interest rates helped fuel optimism over the health of euro zone economy. The FTSE, DAX, CAC and IBEX were all up over 0.75% in early trading.
The euro rose to a near 15-month high against the dollar on the single currency's widening interest rate yield advantage, while oil surged to a two-and-a-half year high on worries that war in Libya and unrest in the Middle East will continually disrupt supplies.
Investors were also relieved that a strong aftershock which struck Japan's earthquake-ravaged northeast late on Thursday had not done major damage. News of the earthquake had sparked profit taking in late trading in Europe and the US on Thursday.
