LONDON (The Deal) -- European markets bounced back a little from their week-long plunge on Friday, taking their cue from the reassuring words of central bankers in London and New York.
With the prospects of interest rate rises delayed until well into next year and the possibility of some further quantitative easing if things get really bad, some investors seemed to believe the selloff has gone far enough for now. Nevertheless, some of the early rise began to wear off later Friday morning.
Watch the video below for a closer look at how European markets are doing in midday trading Friday:
London's FTSE 100 was up 0.98% at 6256.37, while in Paris the CAC 40 had recovered 1.76% at 3,985.78. In Frankfurt, with an eye on this morning's pledge from Russian president Vladimir Putin and his Ukrainian counterpart Petro Poroshenko to enforce their ceasefire, the DAX was up 1.73% at 8,731.54.
In London, engine maker and engineering group Rolls Royce (RYCEY) stalled after a profit warning. It dropped nearly 12% to 829 pence, after saying that a weaker economy and sanctions on Russia would reduce revenue this year and next. Worst affected would likely be its nuclear and energy and its power systems businesses.
Plumbing, building and home improvement supplies retailer Travis Perkins (TVPKF) dropped 1.83% to 1,607 pence after warning that the unusually warm fall-season weather would likely affect its plumbing and heating sales.
In Paris, Franco-Dutch mobile security company Gemalto (GTOMY) dipped 6.86% to 61.87 euros, as analysts predicted production of an in-house SIM card for the latest Apple (AAPL) iPads will erode its position in the mobile SIM card market.
But the news was better for the automobile industry, which saw European sales rise for the 13th month in a row. Germany's Volkswagen (VLKAF) was up 2.65%, while in Paris, Peugeot was up 5.73%.
Hong Kong's Hang seng Index was up 0.53% at 23,023.21, but in Japan the Nikkei continued Thursday's slide and closed down 1.4% at 14,532.51.