European markets cheer EFSF aid funds for Spanish bonds (Barcelona) - The European markets are edging higher on Thursday despite rising yields for Spanish debt. News that the EFSF will set aside aid funds to buy Spanish bonds triggered a risk rally.

The German DAX 30 and the French CAC 40 are up by 1.00% and 0.60%, respectively, while the Spanish IBEX 35 rises by 0.90% despite rising yields of the 2-year bond at 5.204% (vs 4.335%), 5-year at 6.459% (vs 6.072%) and 7-year at 6.701% (vs 4.832%) in today’s bond auction that raised €2.981B. The 10-year yield is still surrounding 7% at the secondary market. The British FTSE 100 is up by 0.50% after disappointing retail sales in the UK: the annualized change in retail sales dropped from +2.1% to +1.6%, against rising expectations to +2.4%. The monthly change was +0.1% instead of +0.6% consensus.

Futures for the American S&P 500, Nasdaq 100 and Dow Jones 30 are signaling a higher open between 0.60% and 0.70%. WTI crude oil is already up by 1.30%, at 91.30. Gold trades at 1584 (+0.74%).

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.