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Wednesday 14 December 2016

Optimism on the stock markets in Europe and the US the day before Fed's decision

European markets led by Italian shares ended with raise and overseas indexes are on their way to new highs in anticipation of the Fed's decision on interest rates in the US.
   
European shares rose to 11-month high on Tuesday as a major factor for this was the Italian shares and more accurate - UniCredit, which present a plan for restructuring and reform. European Stoxx 600 index added 1.06 percent and reached 357.50, making it the best price from January this year. This occurs after the beginning of the week the index lost 0.5%.
Italian banking sector added 5.83%, while shares of UniCredit achieved a growth of 15.92 percent, after it became clear that the bank would cut 6500 employees by 2019 and that they will start selling stocks and bonds. This was welcomed by the markets in anticipation of stabilizing the bank. The market capitalization of the bank is worth 15 billion euros.
In the UK, FTSE 100 climbed by 1.13% to 6968, which is the highest level for six weeks. The main reason for growth also was the banking sector, which managed to prevail over the loss of the energy sector.
Overseas investors are about to find out whether Dow Jones will overcome the psychological level of 20 000. On Tuesday the index added new 114 points and climbed to 19,911 after reaching a peak for the day of 19 953. SP500 added 15 points to 2272, as 9 of the 11 sectors finished at plus. The tech Nasdaq added 59 points to 5471.

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