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Eurozone deal hopes boost risk assets

Oct 18th, 2011 13:46 by News

18-Oct (Financial Times) — Global risk assets are climbing once again on hopes of further aid to the eurozone, with the improved sentiment backed by the latest US corporate earnings results.

This outweighed disappointing GDP data out of China and a weak survey of German investor confidence.

…Late in the US trading day, a report that Germany and France had struck a deal to backstop an expansion of the European bail-out fund to €2,000bn, and to recapitalise Europe’s banks to meet a 9 per cent capital ratio.

PG View: I’ll believe it when the formal announcement comes, but gold is already nearly $40 off the intraday low.

Author key: MK - Michael J. Kosares; GC - George Cooper; PG - Peter A. Grant; JK - Jonathan Kosares; RS - Randal Strauss. [see also 12 yrs of Discussion Archives]

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