Market Mover: ESM Rumors Boost European Markets
January 16, 2012
Market Mover: ESM Rumors Boost European Markets
European stock markets have moved higher Monday in response to a rumor that the EU will soon announce a boost in the size of the ESM.
Recall that the ESM is the bailout fund designed to replace the current EFSF bailout fund when it expires in 2012. There has been talk of running the two funds side-by-side and also of increasing the size of the ESM.
As of 11:00 am eastern, France’s CAC 40 is up +0.72%, Germany’s DAX has a gain of +1.06%, and the FTSE is up +0.22% - all are near the highs of the day. (European markets close at 11:30 am eastern.)
iShares France - Last 12 Month
iShares Germany - Last 12 Month
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