US stocks advanced on Monday amid perceived progress in talks to resolve the eurozone debt crisis.
The S&P 500 added 1.3% to 1,254 while the Dow Jones Industrial Average climbed 104.83 points, or 0.9%, to 11,913. A weekend summit of eurozone leaders led to the outlining of a deal to ease the region's debt crisis, with final details to be agreed at another meeting tomorrow. Eurozone leaders agreed to force banks to protect themselves against future losses, and to increase the firepower of the single currency's 440bn-euro bailout fund. The progress boosted European markets on Monday, with London's FTSE, France's Cac 40 and the German Dax all up more than 1%. Meanwhile, Asian st...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes