Risk stabilizes but Merkozy could scupper things…


London Open Update Risk stabilizes but Merkozy could scupper things… The markets have had a fairly positive start to the European session. The final reading of German GDP in the third quarter was in line with expectations at 2.5%, and German business confidence measured by the IFO survey beat expectations and showed an improvement for the first time since June. The better tone to business sentiment was in part driven by the ECB rate cut early this month. The market is expecting another cut in

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