Author: Elena Todorova
123jump.com
Last Update: 1:06 PM EDT May 26 2006

European stocks rallied for a second consecutive session, boosted by resource stocks after Arcelor agreed to merge with Russian steelmaker Severstal. Shares of Arcelor dropped 3%, while Mittal rose 2%. A positive sentiment on Wall Street, generated by mild core inflation data, also provided support. The German DAX 30 rose 1.4%, the French CAC 40 climbed 1.9%, and London FTSE 100 surged 2%.