Scoreboard: Easy money

European markets rallied as investors reacted to Mario Draghi's commitment to keep doing 'whatever it takes', while Wall Street rose on M&A activity.

In US economic data, new home sales fell by 2.4 per cent in July to a four-month low. New home sales are up 12.3 per cent on a year ago. A lift in the stock of properties on the market and slower price gains should help stimulate demand in the months ahead. The Markit Services Purchasing Managers Index dipped from 60.8 to 58.5 in July.

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