As was widely predicted, European leaders meeting at a critical summit in Brussels forged an agreement early Friday last week to impose more centralized fiscal discipline across the eurozone in an effort to contain Europe’s 2-year-old debt crisis and, perhaps more importantly, prevent another one.
It was, in effect, an agreement to agree on measures that need to be ratified into place via a treaty at a later date, hopefully in the first few months of 2012.
The announcement of a unified approach to austerity, as quoted by foxbusiness.com, was enough to cheer global markets.
The Dow Jones Average was up 163.44, or 1.36%, to 12,161.14 in midday trading. The S&P 500 and Nasdaq stock markets were also up more than 1% on optimism that Europe is making progress stemming a problem that has threatened global market stability for months.
How about Indonesia market today? Bisnis Indonesia provides recommendations quoted from stock brokerages:
Jakarta Composite Index (JCI) technically may be mixed within the range of 3,710-3,810. Investor will continue to monitor the meeting result of Euro zone nations regarding to the budget tightened despite the debt crisis. Several stocks to watch for day trading such as BBNI, BUMI, ASRI, and BKSL.
The JCI today may move within the range of 3,729-3,811 with a slight increase. Several stocks to watch: GJTL, ICBP, and INAF. The index slightly decreased 0.59% to 3,759.60 on last Friday with a total transaction of Rp2.8 trillion.
Disclosure: No position at the stock mentioned above.
Print This Article