Markets welcomed the deal reached in Congress Both Asian and North American markets registered strong gains on the first day of trading in 2013.
A French court has upheld a jail sentence for high-risk trader Jerome Kerviel. However, it overturned a hefty fine for the ex-Societe Generale employee, who nearly brought the bank to collapse with his trading habits.
Stock markets in Europe have closed the week on a nervous note amid the uncertainty in Ukraine. Germany's DAX staged an afternoon recovery to close in the black, but only after sinking below the 9,000 mark earlier.
Bigger than expected credit growth in China has caused investors to return to emerging economies at least for the short term. The hope is China might not crimp credit too harshly, thus maintaining demand for imports.
European shares have cautiously begun to claw back losses suffered last week from mounting tensions ahead of Crimea’s secession vote. While markets in Western Europe edged up slightly, Russian stocks surged strongly.
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