Spreadex Market Update
Markets slightly higher
China announced today that It is seriously looking at deeper involvement within the Eurozone by contributing to the EFSF via the IMF.
Good news for Europe as if China doies come on board Europe should be able to gather a sufficient firewall to appease markets and to guard against possible defaults of Greece and potentially Portugal as the yields on their government debt shot up sharply this week.
Glencore and Xstrata have also announced that they are close to a merger deal, which could be revolutionary for the mining industry as broker and miner come together.
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