Stock exchange traded funds opened higher Thursday following a volatile premarket session on lingering worries over the Eurozone debt crisis.
SPDR S&P 500 ETF (NYSEArca: SPY) was up 0.7% in early trading.
In Europe, France’s CAC 40 and Italy’s FTSE MIB were down more than 1%.
The iShares MSCI France (NYSEArca: EWQ) fell 7% on Wednesday, and French banks such as Societe Generale remained under pressure on Thursday. [France ETF Falls on Downgrade, SocGen Talk]
European markets were volatile after Reuters reported one bank in Asia has cut credit lines to major French banks. Stock markets in Germany and the U.K. were also in the red Thursday.