STOCK MARKET WATCH - Tuesday, 31 January 2012

[Ghost Dog]

17. European Stocks Advance as Most Nations Support Fiscal Treaty; ARM Gains

European (SXXP) stocks rose, snapping a two-day drop, as most countries in the region agreed to tighter budget controls, outweighing concern over a delay in Greek debt talks. U.S. index futures and Asian shares also advanced...

... The Stoxx Europe 600 Index climbed 0.7 percent to 254.18 at 8:05 a.m. in London. The benchmark gauge has rallied 18 percent from its Sept. 22 low as the U.S. economy maintained its recovery and speculation grew that the euro area will contain the sovereign-debt crisis. Futures on the Standard & Poor’s 500 Index gained 0.3 percent and the MSCI Asia Pacific Index gained 0.5 percent.

European Union leaders, meeting in Brussels yesterday, completed a fiscal-discipline treaty that speeds sanctions on high-deficit states and requires euro countries to anchor balanced-budget rules in national law. Eight countries outside the euro backed the pact, while Britain and the Czech Republic boycotted it.

The policy makers, meeting at the 16th summit in two years, also decided to bring the region’s permanent bailout fund, the European Stability Mechanism, into operation on July 1, a year ahead of schedule.

/... http://www.bloomberg.com/news/2012-01-31/european-stock-index-futures-advance-as-most-nations-support-fiscal-treaty.html