LONDON -- European equity markets have been trading higher this morning, boosted after a German constitutional court found that the country can ratify the European Stability Mechanism, bringing about hopes that the economic bloc may be ready to get to grips with the debt and liquidity crisis that has plagued member states during the last few years. With the news, financial stocks have led the way up, and the high-beta sector seems likely to benefit from an economic recovery.
As would be expected, the countries suffering the worst debt troubles, the European peripherals, are those benefiting the most today. Spain's IBEX
As always, the following price moves are based on this morning's European trading.
The decision by the German court and renewed hopes that the worst of the debt crisis is behind us have been boosting banking, insurance, and other financial stocks across the board. Notably, Dutch lender ING Groep
Elsewhere, Finnish handset maker Nokia
Nokia also announced today that it would offer a slimmed-down version of the Windows 8 operating system to older phones in the Lumia range. The software, created by Microsoft, was a key selling feature of the latest Nokia phones, the Lumia 920 and 820, and the company has now said it will now make a similar but less functional version available for older smartphones. This will change many aspects of the phones, from the start screen to Bluetooth connectivity and media functionality.
On a more negative note, Anheuser-Busch InBev
As always, this morning's European news saw some winners and losers -- and perhaps some European buying opportunities. Indeed, legendary investor Warren Buffett has recently spent more than $1 billion buying the stock of a prominent European large cap.
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