Asia And Europe Stocks Rally On News Of Larger Eurozone Fund

Investing

Published: December 7, 2011 3:38 am

Reports in the FT said that the eurozone plans to double the size of its bailout fund. True or not, this pushed shares higher across Asia and at the open in Europe

The Nikkei 225 rose 1.71% to 8,720. The Hang Seng was higher by 1.58% to 19,241.

At the open in Europe, the FTSE was higher by .84% to 5,614. The DAX was up 1.43% to 6,115.

The FT news concerns the size of the bailout fund that the eurozone may create to bailout troubled nations like Spain and Italy. It has been believed up until now that the $440 billion current fund was inadequate to bailout the larger nations. The IMF and ECB have been reluctant to enter the fray.

According to MarketWatch,

European stock markets opened higher on Wednesday after a report in the Financial Times said European officials are in talks to potentially double the firepower of the euro-zone bailout fund.

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