London, England -- (SBWIRE) -- 09/27/2011 -- Spread betting provider City Index (http://www.cityindex.co.uk/) takes a look at the financial activity shaping the markets on 23rd September 2011.
European stocks were higher in value this morning (September 23rd) as investors were attracted to shares following a pledge of support from the G20.
Indices across the continent struggled along with the majority of other markets globally yesterday after the Federal Reserve released figures showing that the American recovery is very fragile at present.
However, Europe's benchmark Stoxx 600 system had risen by 0.16 per cent to a level of 215.23 as of 10:33 BST after the G20 group of economies stated they would implement measures to make the eurozone's bailout packages more flexible.
Nevertheless, Veronika Pechlaner, fund manager on the Ashburton European equity fund, told Reuters: "Fundamentally nothing has changed and it is too early to get aggressive at this stage. We are underweight financials and have become in more so in the last month."
She added that this announcement only represents some "short-term relief", as not many details of the G20's plans have been revealed.
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