US stock markets closed for Thanksgiving Holiday $DAX.I

Last Updated on Friday, 25 November 2011 09:31

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US equity markets were closed overnight as the US celebrates the Thanksgiving Holiday. They will reopen tonight in a reduced session
With the US markets closed attention turned to Europe with the continued debt crisis raging on. Markets looked to the meeting between Sarkozy/Merkel and Monti for some positive news but were disappointed when Chancellor Merkel refused to endorse a move to create a European bond or direct the ECB to fight the crisis
Portuguese bonds were downgraded to B (junk status) by Finch
Troubled French/Belgium lender Dexia rallied 28% after news that a potential bailout by the French and Belgium governments may proceed after all with the French government shouldering more of the burden. Although the stock rallied 28% it is still down 86% for the year
Dow Jones –2.05% S&P500 –2.21% NASDAQ –2.43% (closed)
Currency markets were quieter with the US on holidays. EUR was weaker earlier and the AUD will remain under pressure
Gold was flat overnight and Crude ( 0.9%) rallied on lower stock piles

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

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