S&P downgrades Europe's Rescue FUND and still we're up!

Good evening!

Another bad rating from S&P downgrading European’s RESCUE FUND has hit the news headlines since yesterday.

As we can see, the market is fully detached from S&P’s communications. As of this evening, Europe is closing with the following percentages:

Germany’s DAX: +1.68%

France’s CAC40: +1.16%

Holland’s AEX: +0.69%

Belgium’s BEL20: +1.00%

Spain’s IBEX: +1.02%

The EURUSD is up for the day listed at current prices of 1.2745.

Asia’s close this morning has also been positive. The US equity market is also picking up with the DOW picking up over 100 points.

After a long weekend and a lot of bad news towards Europe from S&P Rating agency, the European indexes have managed to sustain above water closing most of them in positive.

This is an excellent sign since we believe that this year the stock market will outperform previous years and could establish turn around signals for the rest of the Economy.

Stay tuned for more! 

16.40h GMT

-Amar.