Financial markets consolidated earlier gains due to the ongoing fragile global economic conditions as the New Year begins. Sentiment weakened yesterday after Italy’s Unicredit announced 43% discount on rights offer and news that the Spanish government helped the Valencia region make an overdue payment to Deutsche Bank. On a positive note, US’ General Motors, Ford and Chrysler reported better-than-estimated vehicle sales in December. Factory orders in the US also came in line with expectations.
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Financial Markets Pare Gains as Eurozone Crisis Lingers
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