European markets trade higher on hopes for EU action on Greece and EFSF

Markets started the week with a sense of relief since the start of trading in Asia uplifted by hopes for action from the EU and rumors of support for debt-struck Italy. The hopes fueled the market with the momentum for a desperately needed correction yet we can see the volatility evident as the Italy report starts to lose credibility. The day started with positive reaction on a report in La Stampa that the IMF is preparing a loan for Italy that might reach 600 billion euros if the conditions

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