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Image: Remy de la Mauvinere/AP/Press Association Images

Markets close strongly after EU deal

Relief all round….
Dec 9th 2011, 5:04 PM 3,029 13

THE MARKETS RESPONDED positively to news of a deal on greater fiscal unity among all but one of the EU’s 27 member states in Brussels today.

After leaders thrashed out a deal on greater fiscal integration as well as bringing forward and boosting the firepower of the eurozone’s bailout fund the markets – which opened badly this morning - rallied late afternoon and closed up.

On the London stock exchange, the FTSE 100 was up by just under 1 per cent, in Germany the DAX was up by nearly 2 per cent and in France the index of leading shares, the CAC 40, was up by 2.4 per cent.

With markets midway through the day in the US, shares have also responded positively with the Dow Jones and the Nasdaq both up by over 1 per cent at the time of writing.

Explainer: What’s in the new EU deal – and what does it mean for Ireland?

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Hugh O'Connell

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