The Dow is up 125 points to 11961 as Greek Prime Minister George Papandreou signaled he won’t ask for a referendum that would call into question the nation’s membership in the euro. The leader triggered a two-day rout in global stocks earlier this week after saying he wanted voters to decide on the country’s bailout. ECB President Mario Draghi cut the benchmark rate by 25 basis points to 1.25 percent as he chaired a meeting of the governing council for the first time.
The Standard & Poor’s 500 Index added 1 percent to 1,249.94, resuming gains after turning lower following data on service industries that trailed estimates and a prediction by the ECB president that Europe was heading for a mild recession. Oil rose 1.6 percent to $93.94 a barrel and the S&P GSCI Index of materials increased 1.1 percent. Ten-year Treasury yields gained six basis points.
Papandreou reportedly is saying he will reach out to the opposition about forming a transitional government, signaling his apparently shaky standing within his own party, and it has been widely reported that he is apparently facing a confidence vote on his government administration tomorrow.
Boudin Chaud. Cous Cous Froide. Allons Tigres--Poussez Poussez Poussez
John Broussard
Assistant State Treasurer
Chief Investment Officer
State of Louisiana
Department of the Treasury
Ph: 225-342-0013
Fx: 225-342-9721
Email: jbroussard@treasusry.state.la.us
Street Address:
445 North Blvd, 7th Floor
Baton Rouge, LA 70802
Mailing Address:
P.O. Box 44154 Capitol Station
Baton Rouge, LA 70804-4154
Physical Location:
One City Plaza, 7th Floor
Corner of North Blvd & 4th Street
Exit 1B I-110 Convention Street, Turn Left to get to North Blvd
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