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Global Markets Update: European Stocks Rise to Two-Week High

Friday, 23 Dec 2011 | 11:28 AM ET

The global markets. European stocks rise to a two-week high, although volume is extremely light heading into the holiday. Moody's keeps Austria's AAA rating with a stable outlook. Ten-year Italian bonds remain near 7 percent -- Italy will hold a series of bond auctions next week. Greece must decide whether it will take a 70- or 50-percent haircut. And a decision on European downgrades will come in January, according to S&P. With Dan Greenhaus, BTIG chief global strategist, and Stephen Weiss, Short Hill Capital.