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Equities rise as Obama delays action on Syria

  • Global stocks are higher after President Obama said he would seek Congressional approval to carry out an attack on Syria, a move that has delayed any action and decreased the chances it might take place.
  • The developments have reduced the demand for safe havens such as the yen, with the USD-JPY +1.2% to ¥99.31. A weakening yen tends to have a positive effect on Japanese shares.
  • Gold, another haven, is -0.3%.
  • Decent manufacturing PMI data in China and Europe is also boosting sentiment.
  • Vodafone is +3.7% on confirmation it's in "advanced" talks to sell it's stake in Verizon Wireless for $130B.
  • Japan +1.4%, Hong Kong +2%, China flat, India +1.5%.
  • EU Stoxx 50 +1.5%, London +0.3%, Paris +1.6%, Frankfurt +1.6%, Madrid +1.75%, Milan +1.6%.
  • Although U.S. markets are closed, stock futures are higher. Dow +0.7%. S&P +0.9%. Nasdaq +1%.
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