Financial Markets Pressured as EU Summit Contains Few Surprises

Financial markets remained pressures in the European session as the informal EU summit brought no new ingredients on stimulating growth and resolving the sovereign debt crisis. Meanwhile, the disappointing PMI data released in the 17-nation bloc also damped sentiment. In the commodity sector, crude oil resumed the decline after a brief recovery while gold would probably record loss for a 4th day.

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Financial Markets Pressured as EU Summit Contains Few Surprises