FXstreet.com (Barcelona) - The European equity indexes are up on Wednesday. The German DAX 30 (+0.20%), the French CAC 40 (+0.50%), the Italian FTSE MIB (+0.83%) and the Spanish IBEX 35 (+1.45%) are strong as investors become progressively on board of risk taking after S&P's rating upgrade to Greece by 6 notches, improved yields on peripheral debt due to approval of the single bank supervisor, and hopes of a “fiscal cliff” crisis resolution soon. Central banks' liquidity flows are also having a strong effect on equity prices.
German IFO survey's Business Climate and Expectations improved to 102.4 and 97.9, beating consensus. Disappointing was Current Assessment, sliding from 108.1 to 107.1, instead of coming in at 108.0 in December as expected.
Futures for the American S&P 500 (+0.22%), Nasdaq 100 (+0.38%) and Dow Jones 30 (+0.22%) are signaling a higher opening despite Fitch's warning that the AAA rating is in stake if US politicians can't figure out a way to tackle the “fiscal cliff”.