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Global Markets Update: European Markets Buoyed by Greek Optimism

Monday, 20 Feb 2012 | 11:40 AM ET

With markets closed in the US for the Presidents' Day holiday, the focus was firmly on Europe and the afternoon meeting of euro zone finance ministers with a positive resolution being increasingly priced in by investors. European shares closed up on expectations that Greece will get its second bailout, and after China cut the amount its banks must hold in reserve.