Although, the European leaders came up with some positive news during the Euro Summit, Steve Brice, Chief Investment Strategist of Standard Chartered Bank feels that Europe must have structural reforms in the long-term.
At the end of the week, on Friday, Indian equity benchmarks closed at a two-month high. The European markets too rallied after European leaders agreed to take emergency action to bring down Italy and Spain's spiraling borrowing costs on the first day of the summit.
The European markets have seen some rally over the past few days. In an interview with CNBC-TV18, Patrick Moonen, Strategy and Asset Allocation Global, ING Investment Management said that it can be attributed to what can be referred to as a pre-summit mood.
Julian Callow, chief European economist at Barclays Capital spoke to CNBC-TV18 about his expectations of market reaction to the euro summit.
"Days ahead of the big Euro summit on Friday, the market has had a good run today," said Udayan Mukherjee, Managing Editor of CNBC-TV18. He says the expectation from the summit is positive and that momentum is carrying Nifty slowly but surely towards that resistance pit of 5,150-5,200 levels," he said.
If we depend on the way global markets have performed, it’s likely to be a flat day of trading, says CNBC-TV18’s managing editor, Udayan Mukherjee.
Jason Hughes of IG Markets spoke to CNBC-TV18 on the implications of the Central Banks' coordinated move to infuse liquidity in the system and the way forward for global markets.
John Lipsky, current advisor to the managing director of the IMF believes that European authorities are looking out for ways to expand the EFSF.
The European leaders delivered on their promise, and that has lead to a huge rally in global markets. However, CNBC-TV18’s managing editor Udayan Mukherjee believes that this is only a short term band aid for a longer term problem.
Moorah Choudhry, head of business- GBM Treasury at RBS doesn’t believe there is going to be a final agreement on euro zone issues on Wednesday.
'Volatility is here to stay with us,' states Ramit Bhasin, managing director and head of markets at RBS because of the newsflow emerging from Europe.
All the different voices on the euro summit this weekend have increased the volatility in global markets due to which CNBC-TV18’s managing editor Udayan Mukherjee thinks that we may have a flattish end to the week today.