Bloomberg reports about the ascending energy-market stocks at the closing of the month. This rise is mostly based on the assumption that the Euro-zone will find a way out, or around, its chronic debt crisis, but also on the record retail sales registered in the States through Thanksgiving ($52.4 billion, according to the National Retail Federation).
Investing in Italy
La Stampa informs that the IMF will make ready a 600 billion euro loan to rescue Italy from the debt burden. The IMF still remains silent about saving Italy, the same way they did last week about Hungary. Eventually, debt to pay debt talks will conclude and new loans will be signed. Tim Ash, head of emerging-market research at Royal Bank of Scotland Group Plc in London, said in an e-mailed note. "The fact that markets are rallying suggests short positioning generally, and perhaps an unwillingness now to get too short this side of the European policy makers’ crisis meetings planned for early next month."
Short-time Fixes Hopes in Europe
European leaders agreed to amend treaties in order to bring a stricter fiscal discipline over the Euro-zone. How much this patch will hold the crumbling cards castle remains to be seen. "European Union President Herman van Rompuy has been tasked with presenting EU leaders with proposals for treaty changes at their next summit in Brussels on Dec. 9, a spokeswoman for Merkel’s government said yesterday."
The WIG20 Index jumped 2.1 percent in Poland, which sends most of its exports to the EU. The BUX Index gained 1.4 percent in Budapest.
OAO Sberbank, Russia’s biggest lender, surged 4.3 percent in Moscow. OAO Lukoil, the country’s second-biggest oil producer, jumped 2.8 percent.
Oil rose as much as 4.1 percent in New York.