Global markets rose Wednesday on hopes that financial authorities in the U.S. and Europe may take action to stimulate economic growth and ease the financial turmoil that is threatening to tear apart the 17-country eurozone.
LONDON — Signs of a deal to avert an economically damaging U.S. debt default boosted world equity markets and the dollar on Tuesday, though firm short-term interest rates highlighted concerns that the problem may just be postponed.
Hopes rose after U.S. Senate Majority Leader Harry Reid, a Democrat, and his Republican counterpart, Mitch McConnell, ended a day of talks on Monday, with Reid saying they had made “tremendous progress”.
Martin SantaBRUSSELS — The German and French economies grew faster than the United States in the second quarter, pulling the eurozone out of its longest recession.
Growth in the 17-country bloc was 0.3% from the previous quarter, with its two biggest economies both revealing unexpected strength, data from the European Union’s statistics office Eurostat showed on Wednesday. A Reuters poll had forecast 0.2%.