Global stocks soar as China denies eurozone sales

Global equity markets rallied yesterday as China denied reports it was reviewing its eurozone investments, with markets on both sides of the Atlantic climbing over 3%.

The S&P 500 advanced 3.29% to 1,103.06 in the US overnight, while the Dow Jones was up 2.85% to climb back over the 10,000 barrier. The tech-heavy Nasdaq index jumped 3.73%. Investor sentiment was given a boost by China's reassurances it was not considering cutting its holdings of eurozone debt amid the recent crisis. China labelled the report saying it was mulling such a move as "baseless". In London, the FTSE 100 ended yesterday up 3.12% higher, to 5,195.17. Insurers were the big winner on the day following news the investor rebellion against the proposed Prudential of AIA has hi...