Friday, 29 June 2012

S&P/ASX 200 +1.5%, Rally On EU Comments

MARKET TALK: World indices rally following positive comments from EU Commissioner Herman Van Rompuy; the index is currently up 1.5% at 4105. Van Rompuy says the ESM and EFSF funds will be used flexibly and an ESM-funded loan to Spanish banks won't have senior creditor status--that will boost confidence in peripheral European bond markets. Additionally, the EU's Barroso says direct bank recapitialization will be possible under very strict conditions--this could lead to a more streamlined and faster way of dealing with bank recapitalization.

Question is, how long do you think the rally will continue for?


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