Encouraging World PMI Buoyed Sentiment

Market sentiment was lifted by encouraging PMI data in February. Moreover, rumors of an agreement on Greek PSI and Fitch's comment on Portugal also sent risk appetite higher. Wall Street soared with DJIA and S&P 500 gaining +0.66% and +0.89% respectively. In the commodity sector, oil's performance was mixed. While Brent crude climbed higher on improved manufacturing data and tensions over Iraq, WTI crude erased all gains made earlier in the day after the DOE/EIA reported a sharp increase in crude inventory and a fall in gasoline demand.

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Encouraging World PMI Buoyed Sentiment