European markets rose 1 per cent in early trade on Wednesday, extending mild gains from the previous sessions following the steep selling on Monday. Yesterday, the S&P 500 rose 1 per cent, and the Nasdaq climbed 1.7 per cent, whilst markets across Europe were a little more mixed with London and Frankfurt higher but Paris lower. Today sees solid bid across sectors and bourses with a slate of manufacturing and services PMIs in focus. The FTSE 100 recovered the 5,900 level, with even IAG and easyJet getting in on the action, rising 6 per cent each. Safe-haven play Fresnillo was off by a similar margin as silver and gold prices come under a good deal of pressure again today. There is no clear evidence for the airlines to rally except that perhaps there was an overreaction earlier in the week.
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