EU Debt Plan Gives Lift to Stock Markets

Stocks in Europe turned higher ahead of the New York open as Eurozone officials prepare to meet to continue work on a debt-relief plan for the region. The FTSEurofirst 300 .FTEU3 index of top European shares was up 1 percent at 972.11 points at 1118 GMT, rising toward the 50 percent retracement of its slump from late July to late September.

Investor sentiment was boosted by a report in Britain’s Guardian newspaper a deal had been reached by France and Germany to scale up the European Financial Stability Facility to more than 2 trillion euros, a story later denied by two senior European Union officials.

Source: Reuters

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