Europe: Kept momentum in Spanish redemption

The European market Wednesday insisted its upward momentum after a long-awaited report from Moody's on Spain did not contain the expected downgrade of its credit rating. At the same time a string of positive news for several large European companies sent mood firmly upwards.

Europe: Steady increases kicks off the last quarter

The European stock markets opened the fourth quarter with decent gains after the release of the results of the Spanish bank test, which showed a capital needs in the context of what was devoted to the Spanish banking sector in the EU rescue fund EFSF. Moreover, U.S. data helped lift the mood as the ISM index for U.S. manufacturing showed a somewhat larger increase than expected.