European and Asian markets started in recovery mode after the Turkish central bank last night more than doubled its main interest rate to stabilize the lira. The sugar high from eating Turkish Delight didn’t last. Paris was back to Tuesday’s closing level at one point before bouncing back, and even Frankfurt pared gains, as emerging market currencies shed some early gains. Supermarket J. Sainsbury was London’s biggest faller, as CEO Justin King said he’ll to step down in July. Mining stocks gained on stronger production. Hong Kong Electric IPO disappoints.
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