The PIIGS Are Flying!

European stock markets are loving the idea of Europe’s giant bailout fund so far. France’s CAC 40 is up over 6%, Germany’s DAX is up 3.6%, Spain’s IBEX 35 is up over 9%, Italy’s MIB is up over 7%, and Greece’s ASE 20 is up over 9%. The U.K.’s FTSE 100 is up 3.7%.

The euro is on a tear back above 1.30. Gold is shedding some of its recent gains, and is at $1,189. Asian stocks are up, but not by the same magnitude as Europe. MSCI Asia is up 2.3% according to Bloomberg.

Charts below from FINVIZ:


Here’s the bright green futures picture:


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