SCOREBOARD: G8 tonic

Global stocks rallied on positive US data and expectations this week's Federal Reserve meeting will follow the G8's optimistic outlook.

Global equities pushed higher overnight and gains were solid. In Europe, the major indices rose 1.1 per cent on the Dax, 1.5 per cent on the CaC and 0.4 per cent on the FTSE100. Not so much in the way of euro-specific news that I could see, although there is lots of banter about merger or takeover activity in the telecom space (which was denied) and telecoms were the key outperformer in Europe.

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