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Global Markets Update: ECB Lends Out 489.2 Billion Euros

Wednesday, 21 Dec 2011 | 6:15 AM ET

European markets are up as the ECB lends out 489.2 billion euros in first-ever 3-year lending operation, well ahead of the 310 billion euro expectations. Banks are higher on the day, while the euro is volatile following the ECB allotment. And the Bank of England votes to hold the bank rate unchanged at .5 percent.