Trade The News | Nov 29, 2012 06:42AM ET
Economic Data
Indices: FTSE 100 +0.90% at 5,853, DAX +0.80% at 7,399, CAC-40 +1.1% at 3,553, IBEX-35 +1.1% at 7,925, FTSE MIB +1.7% at 15,719, SMI +0.80% at 6,809, S&P 500 Futures +0.60% at 1,415
European equity markets are broadly higher, tracking yesterday gains in the US equity markets. The strength in the US markets came amid commentary from US President Obama, as he noted that he hoped to reach an agreement on the "fiscal cliff" before Christmas. Today's gains have been led by the Spanish IBEX-35 and Italian FTSE MIB, amid the sharp move lower in peripheral bond yields.
In Greece, the Athens Stock Exchange (ASE) has gained over 1%, following reports that Germany's SPD opposition party may vote in favor of the Greek aid package. European banks are broadly higher, led by gains in the Greek banking sector. Other outperformers include Banco Popular, BBVA, Commerzbank, Intesa and Natixis.
Looking ahead, traders are expected to focus on Q3 GDP and same store sales data out of the US.
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