Market euphoria driven by US budget deal fades in Europe

01/3/2013 | Wall Street Journal, The

European markets declined or gained modestly after a brief rally prompted by a deal to avert the US "fiscal cliff". "We had the rally after the fiscal-cliff deal, and now there's the story of stepping back from that and working out what will happen when we get back to discussing it again in February and what will happen with the debt ceiling," Investec Securities economist Victoria Clarke said.

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