Markets Surge On Positive News Out Of Europe: Here Are The 10 Trades To Watch


Photo: AP

U.S. and European markets are up for the second day in a row after a successful Portuguese debt auction and gains in Asia overnight.Financials were moving up in Europe with Banco Santander and Banco Bilbao Vizcaya both surging more than 8%. U.S. banks weren’t far behind with gains after Wells Fargo upgraded its rating of the entire sector.

Crude oil managed to stay on top while gold dropped for the first time in a week.

  • DOW up 0.91%
  • NASDAQ up 0.64%
  • S&P 500 up 0.93%
  • CAC up 2.15%
  • FTSE up 0.61%
  • DAX up 1.83%

Financials on the upswing followed by basic materials

The Big Trade: Crude oil stays up on optimism over European sovereign debt, limited reopening of Trans-Alaska pipeline

BIG WINNER: Banco Bilbao Vizcaya Argentaria (BBVA) up more than 9%

BIG WINNER: Banco Santander rises on reaction to the Portuguese bond auction

BIG LOSER: Companhia de Bebidas Das Americas downgraded to neutral from buy by Goldman Sachs

BIG LOSER: National Grid down over 2%

Sector Mover: iShares DJ U.S. Financial ETF up more than 1%

Country Mover: WisdomTree India Earnings Fund up nearly 2% after multiple days of losses

Currency: Euro rises against the dollar as Portuguese bond sale eases worries

METALS: Gold fell for the first time this week on easing eurozone debt concerns

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