Global stocks soared on fresh bailout plans in Europe $XAGUSD
- Updated: 02 April 2012
- Published: 22 August 2011
- US Equities advanced producing the Dow’s best session in a month given speculation that European policy makers will prevent additional financial contamination
- European Equities soared after German business sentiment figures were well ahead of estimates, while the ECB said its policy makers are debating whether to restart covered-bond purchases along with new measures to ease monetary conditions
- European Financials rallied with majors such as Barclays (156.00p, 6.9%), Credit Suisse (CHF22.47, 5.6%) and Deutsche Bank (€25.12, 8.7%) performing well
- US Financials roared, Bank of America ($6.60, 4.6%), Citigroup ($26.72, 7.0%), JPMorgan Chase ($31.65, 7.0%), Wells Fargo ($24.79, 4.6%) – & Investment Firms – Goldman Sachs ($99.14, 4.2%) Morgan Stanley ($14.61, 6.5%)
- Swiss-based UBS ($12.15, 8.0%) rallied after introducing a new Chief Executive in the wake of the $2.3 billion scandal and the resignation of CEO Oswald Grbel
- Aircraft manufacturing giant Boeing ($62.01, 4.2%) rose the most in six weeks after completing first delivery of the much delayed 787 Dreamliner
- Dow Jones 2.53% S&P500 2.33% NASDAQ 1.35%
- A rebound in risk sentiment, weakened the US Dollar against the Euro, sending Gold for December as much as $106/oz off its lows. Crude rose 1.9% on improved appetite
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