Get 40% Off
🔥 This hedge fund gained 26.16% in the last month. Get their top stocks with our free stock ideas tool.See stock ideas

European Summit Lifts Markets And Slams Dollar

Published 06/29/2012, 01:53 PM
Updated 07/09/2023, 06:31 AM
BIRG
-
DBKGn
-
SAN
-
SMT
-
NBGr
-

This morning, the S&P 500 Index e-mini futures (ES-U2) are surging higher by 25.00 points to 1347.50 per contract. The catalyst for the rally is just another European bank bailout announcement. All of the European banking stocks are soaring sharply higher today on the news. Deutsche Bank AG (NYSE:DB) is rallying higher by 7.40 percent ahead of the opening bell at the New York Stock Exchange. Other leading European banks that are trading higher today include Banco Santander, S.A. (ADR) (NYSE:SAN), National Bank of Greece (ADR) (NYSE:NBG), and the Bank of Ireland (ADR) (NYSE:IRE). The Euro currency is also jumping higher today on this news and that can be seen by viewing the CurrencyShares Euro Trust (NYSEARCA:FXE) which is higher by $2.34 cents in the pre-market.

Traders and investors can now only wonder how long this new bailout news will last. The last time a bailout was announced for Spanish banks the rally lasted about 24 hours before fading off. Traders should stay on guard as this could be another replay of that event. Germany is still the country that holds the most weight and they have said that they are not in favor of Euro-bonds. That statement by the Germans could throw a monkey wrench in this whole bailout.

Below You May Find The Video. 

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.