SINGAPORE – On Monday the European and Asian markets were higher after the announcement by Barack Obama on Sunday night, a last-minute agreement on raising the U.S. debt ceiling will prevent the United States end up in default payment.
On Sunday Republican and Democratic leaders have set the details of an agreement to reduce more than 2,000 billion (1,400 billion) public spending in the next ten years. No vote is expected, however, before both houses of Congress on the agreement until at least Monday.
On Monday morning In Britain, the FTSE 100 was up 1% to 5872.91 points, and France, the CAC-40 gained 0.6% to 3693.48 points. In Germany, the DAX recorded an increase of 0.9% to 7222.27 points.
In Japan, the Nikkei was up 1.8% to 10,013.90 points, while in South Korea, the Kospi index gained 1.7% to 2170.38 points. In Hong Kong, the Hang Seng recorded an increase of 1.5% to 22,770.70 points, while in China, the Shanghai Composite stock index gained 0.3% to 2710.92 points.