On Monday, the meeting between French President Nicolas Sarkozy and German Chancellor Angela Merkel raised hopes on nation’s growth amid investors. The objective of the meeting is to discuss the rescue plan to protect debt driven European economy from debt default.
Investors hope that the Global leaders might have mapped out some plan to stop spreading debt crisis in 17-euro zone nations. In the meeting, the Global leaders urged Greece to restructure the debt system as a measure to stop spreading the crisis in the euro region.
By the end of the meeting, Merkel showed confidence that the solution for the prolonged debt crisis may be reached at the end of January. The news cheered up investors and increased risk appetite for financial stocks. However, risk appetite were limited pessimistic view on December quarter corporate earnings.
Investors are cautious to take position in financial stocks as the corporate earnings season seems to be gloomy on the back of global slowdown witnessed in December quarter.
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