GLOBAL MARKET NEWS- EUROPEAN MARKET
The Euro STOXX 50 volatility index, Europe's main gauge of anxiety known as the VSTOXX, sank 10 percent to a one-week low of 25.25 on Friday, as investors' appetite for risky assets recovered following a deal at the EU summit.
European Union leaders agreed a plan to allow euro zone rescue funds to be used to stabilise debt markets and directly recapitalise banks, sending the euro zone's blue chip Euro STOXX 50 index up nearly 3 percent while Italian and Spanish government bond yields fell sharply.
The lower the volatility index, based on sell- and buy-options on the Euro STOXX 50 stocks, the higher investors' appetite for risky assets.
The Euro STOXX 50 volatility index, Europe's main gauge of anxiety known as the VSTOXX, sank 10 percent to a one-week low of 25.25 on Friday, as investors' appetite for risky assets recovered following a deal at the EU summit.
European Union leaders agreed a plan to allow euro zone rescue funds to be used to stabilise debt markets and directly recapitalise banks, sending the euro zone's blue chip Euro STOXX 50 index up nearly 3 percent while Italian and Spanish government bond yields fell sharply.
The lower the volatility index, based on sell- and buy-options on the Euro STOXX 50 stocks, the higher investors' appetite for risky assets.
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