Monday’s absence of Americans investors decided to use for some shopping. Despite small decreases in China Japanese Nikkei225 gained on Monday +7.16% what influenced positively for opening in Europe. European indices were helped by decreases of EURUSD. After test of 1.1380 area on Thursday on Monday this move was continued. On Monday there was also speech of Mario Draghi in which he talked about Italian banks. ECB started talks with Italian government about buying bad credits from banks and Draghi said that ECB is ready for this kind of action.
As a result session was very successful for bulls. English FTSE250 +2.04%, French +3.01%, German DAX +2.67%. 27 out of 30 DAX companies gained some value, the most E.ON +8.40%, Volkswagen +6.88%. A little decreases of German banks – Deutsche Bank and Commerzbank – less than 0.3%.
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Technically as expected DAX is coming back to broken 9,300 pts support area. Behavior of the index in this area will show us how real strength of German bulls looks like. It is worth to notice that on Tuesday Americans are back and on Wednesday we will know FOMC meeting minutes.
