European markets surge on Alcoa sales results

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Source: Marketwatch

European stocks climbed on Tuesday after investors anticipated sales from Alcoa Inc. which reported higher than expected results. French shares including those for luxury goods rallied after Fitch said it is not planning to downgrade France this year. Stoxx Europe 600 index rose 1.8% to 250.82, French CAC 40 index rocketed 2.7% while UK's FTSE 100 index and German DAX gained 1.5% and 2.4% closing at 5,696.70 and 6,162.98 respectively. 

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Wed, 11 Jan 2012 07:31:14 GMT

Geithner to call for cutting oil imports from Iran

Timothy F. Geithner, the US Treasury Secretary will call Asian two largest economies to reduce oil imports from Iran in his meetings with Chinese and Japanese PMs Wen Jiabao and Yoshihiko Noda. Geithner also will require China to review Yuan's exchange rate, as US insists that Chinese domestic currency is undervalued, thus creating unfair competition. 

Wed, 11 Jan 2012 07:30:59 GMT

US stocks edge up led by appreciation of Euro

US stocks surged on Tuesday lifted by the appreciation in the Euro, as weaker greenback pushed higher oil price and other dollar-denominated resources and commodities. Dow Jones Industrial Average gained 0.6 or 69.78 points and closed at 12,462.4, S&P 500 climbed 0.9% or 11.38 points and finished at 1,292.08, while Nasdaq Composite Index jumped 1% or 25.94 points at 2,702.50.

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