SCOREBOARD: Receding cliff?

US equities made gains overnight as Europe showed signs of healing, and amid hopes a deal on the fiscal cliff will be reached before Christmas.

US equities initially sold off, following what was a sluggish session across the pond – the Dax closed 0.2 per cent higher, the CaC was up 0.4 per cent, while then FTSE100 rose 0.1 per cent. The thing is those modest moves don’t really capture the moment for me – the bigger picture.

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