SCOREBOARD: Crude celebration

Commodities and stocks rocketed on Europe's new pact, showing the immediate crisis is all about confidence.

A whole 9.4 per cent. That’s what crude jumped on Friday night after the EU’s new crisis measures were announced. It was the biggest single day gain in three years. Silver and copper then both shot up 5 per cent a piece and the Australian dollar is up 2 cents from Friday afternoon. Stocks gains were equally impressive – with the Dax up 4.3 per cent and CaC up 4.75 per cent, and Spanish stocks shot up 5.7 per cent while in Italy we saw gains of about 6.6 per cent.

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