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GLOBAL MARKETS ENJOY "GOOD DAY"

Markets globally enjoyed a positive rally yesterday, after Germany's top court rejected calls to block the country’s contribution to the European bailout fund.

German Leader Angela Merkel called it "a good day", and the relief at the verdict was palpable not just on the markets but also in Brussels and other European capitals.

Spanish, Italian and German share indexes all rose after the ruling, while the euro continued its recent gains to hit a new four-month high against the US dollar.

Key borrowing costs on Spanish and Italian 10-year bonds also fell.

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