European Markets Close Up On Merkozy, EuroTARP rumours

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Photo: Haleyface on Flickr

European markets finished, amid murmurings that a huge plan to save the eurozone was in the works and a rumour that German Chancellor Angela Merkel and French President Nicolas Sarkozy were about to make a statement at noon EST.While there might be reason to believe the former, there are no facts substantiating the latter.

But first, your numbers:

DAX: 2.88%

CAC 40: 1.75%

FTSE: 0.45%

Comments by the ECB’s Lorenzo Bini Smaghi on leveraging the EFSF in an “efficient and innovative way” could have also bolstered markets.

Further declines in gold and silver comprised some of the notable news today.

The quiet news day also boded well for French banks, which have recently found themselves the subject of intense scrutiny.

SocGen: 5.44%

Credit Agricole: 3.66%

BNP Paribas: 3.99%

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