Go figure. BusinessInsider reports that European markets have made quite a successful turnaround, starting the day noticeably lower, but then ending up solidly higher. Italy's FTSE MIB gained over 1.2%.
France also gained over 1%.
Who woulda thunk it? What's remarkable is not just that these gains came in the aftermath of Friday's downgrade — which was, admittedly quite expected — but while the headlines out of Greece are still terrible. There's no progress, it seems, on the debt restructuring front, and an analyst at S&P in Europe is out saying that he expects Greece WILL default shortly...
Read more: http://www.businessinsider.com/the-market-is-incredibly-complacent-in-the-midst-of-horrible-headlines-2012-1#ixzz1jdtFdnQN
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