12 Nov 2011

Markets up after Senate vote

12:20 pm on 12 November 2011

Stock markets in the United States and Europe rose on Friday after the senate in Italy voted to adopt a package of austerity measures.

The BBC reports the Dow Jones index closed 2.1% higher and the Nasdaq was 2.04% higher.

The DAX in Frankfurt ended 3.2% up and the FTSE 100 share index in London climbed 1.8%. The CAC-40 was up 2.76%.

Investors are hopeful that a new government in Italy will take the steps necessary to calm markets.