Speculation Grows G7 to Act to Calm Markets

Stocks in Europe gained and North American markets are expected to open higher as speculation grows that the G7 will announce measures to reassure markets in the wake of the crisis in Japan. The Stoxx Europe 600 Index gained 1.2 percent at 12:35 p.m. in London, and futures on the Standard & Poor’s 500 Index rose 1.2 percent.

Japanese Finance Minister Yoshihiko Noda told reporters G-7 officials will meet tomorrow and discussions on the impact of the March 11 earthquake will encompass currencies, fueling speculation policy makers will delay any intervention to limit the yen’s advance.

Source: Bloomberg

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