A sharp rally in metals lifted markets in Brazil, Peru, and Argentina. CVRD won 65% rise in iron ore prices after a negotiation with four largest Japanese steel compaines. Iron prices have increased more than 100% in the last three years before the current hike, effective on April 1. Qatar sovereign fund is ready to increase its stake in credit Suisse, and is willing to invest upto $15 billion. European banks closed higher on the news and on the expectations of better earnings from Barclays. |
More: