Markets rally on Greek bailout news $BAC:xnys
- Updated: 02 April 2012
- Published: 22 August 2011
- Markets were stronger after Greek politicians voted in favour of the proposed bailout and austerity package. However risks remain with investors concerned that upcoming national elections could see further turmoil in the indebted euro nation
- Most sectors on the S&P500 where higher with financials and consumer discretionary stocks leading the gains. Utilities were softer
- The Baltic Dry Index fell 8.42% to close back below 20.00 at 19.04
- Apple rose 1.6% to above $500 for the first time as investors look to the expected release of the iPad 3 in March. The stock has added 19% to its share price since it beat earnings in December
- DOW 0.57%, S&P500 0.68% and NASDAQ 0.95%
- USD was slightly stronger overnight, the EUR rallied to a high of a 1.3283 earlier last night before falling. AUD hit 1.0777 before falling
- Gold edged higher overnight up 0.1% despite USD strength, Crude rallied up 2.4% to be trading back above USD100.00 per barrel
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