Obama makes a counter offer to republicans
Trading Floor News December 18, 2012 4:00 PM
<p>- European markets traded higher today, the FTSE 100 up 0.3% at 5928 with inspirations from progress being made from the US that avoids the […]</p>
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- European markets traded higher today, the FTSE 100 up 0.3% at 5928 with inspirations from progress being made from the US that avoids the fiscal cliff.
- Obama made a counter offer to republicans that included a change in position on tax hikes for the wealthy, as it looks like they are moving forward and looking to compromise by the end of the year and the global economy will no longer be under threat.
- The German DAX was up 0.4 percent at 7632, the French CAC was up 3 percent at 3648 as the positivity overnight has given the markets confidence, with this news it could drive further gains for investors heading into Christmas.
- Looking at the mining sector, gains from Vedanta evraz and BHP Billiton were in demand on the hopes from the US and gains from Whitbread after £51m in sales figures and Rolls Royce after signing a $1bn contract with japans skymark airlines.
- The markets have now received constructive signals from the US, focus will remain on further news on the deal, and looking at economic data inflation figures will be released at 9.30am.