Wednesday, December 22, 2010

European Stocks Advance as China Helps Europe Limit Debt Crisis

Chinese Vice Premier Wang Qishan said the world’s second- largest economy has taken “action to help some EU members counter the sovereign-debt crisis.” China holds a record $2.65 trillion in foreign-exchange reserves.
European stocks continued their rally even after Moody’s Investors Service said it may cut Portugal’s A1 long-term and Prime-1 short-term government bond ratings “by a notch or two” because of the country’s “sluggish” economic growth. BLOOMBERG

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