Markets rally on Berlusconi resignation $WPL:xasx $AUDUSD

Last Updated on Wednesday, 09 November 2011 09:35

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US markets have rallied on news that Italian PM Silvo Berlusconi will resign after the parliament approves the pending austerity measures before parliament. Italian Bonds rose to a record high of 6.77% overnight
The Greek Cabinet held an emergency meeting overnight to agree on a new PM with former ECB Vice President Lucas Papademos firming
Confidence among small US companies rose for the second month in a row. Also Job Openings increased by 225k to 3.35Mil, the highest since August 2008. This indicates that some companies are preparing to hire
McDonalds fell 0.49% despite better than expected October sales, homebuilder Toll Brothers climbed 5.9% after a 6% jump in revenue
Adobe shares fell 7% in the aftermarket as a restructure caused EPS to fall to 30-38 cents from an expected 41-50 cents per share
Dow Jones 0.84% S&P500 1.17% NASDAQ 1.20%
EUR rallied against the USD on Italian news, GBP topped out at 1.6129 and the AUD broke up to a high of 1.0403 before pulling back sub 1.0400
Gold rallied on mounting Italian fears and Crude pushed higher up 1.30%

Published by Spectrum Live Pty Ltd | www.spectrumlive.com

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