Markets rally as Greek deal draws closer $WFC:xnys
- Published: 09 March 2012
- Markets rallied overnight with news that more private bond holders of Greek debt are indicating that they will participate in the swap deal
- Household consumer confidence moved to a four year high. The Bloomberg Consumer Comfort Index rallied to -36.7 to the period ending 4 March, this was the best result since April 2008. Adding further weight to the recovery story, Household Wealth also climbed in the last quarter of 2011 to add to three quarters of consecutive growth
- The KBW Bank Index rallied 1% as banking stocks rallied on news the Greek Debt deal is drawing closer and looking more likely to pass
- McDonalds led the losses on the Dow falling 3.21% due to poor sales
- Leading the gains on the Dow were AA, CAT, DD and MM each rallying 2.30%, 1.85%, 1.69% and 1.45% respectively
- DOW 0.55%, S&P500 0.98% and NASDAQ 1.18%
- USD fell on risk appetite , the EUR is above 1.3250 and AUD at 1.0650
- Gold rose on Greek optimism and Crude rallied 0.6% on Iranian fears
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