European stocks rebounded at the open on Friday, regaining some of the ground lost this week on mounting fears of a global recession, dealers said.
In initial trade, London’s FTSE 100 benchmark index rallied almost 1.0 percent to 5,591.8 points compared with the close on Thursday.
In the eurozone, Frankfurt’s DAX 30 index jumped nearly 1.2 percent to 8,854.4 points and the Paris CAC 40 won about 1.4 percent to stand at 3,949.2.
In stark contrast however, Tokyo stocks suffered a near five percent plunge, leading another Asian rout on Friday.
A fierce sell-off gripped world markets on Thursday after a warning by US Federal Reserve boss Janet Yellen over the global economy, while oil fell close to 13-year lows.
This week has been one of the most painful for global investors as fears about the world economy-and possible recession-stalked trading floors.
“Global recession risks show little sign of abating and the sell-off in global equities and pressures on the global banking sector are a reflection of this,” VTB Capital economist Neil MacKinnon told AFP.
