Global Markets Update: Euro Zone Entering Recessionary Territory?

11:28 AM ET Tue, 10 Jan 2012

European shares close solidly higher as Wall Street rallies. European commodity stocks are boosted by Alcoa's outlook. The ECB meets Thursday: the Euro zone enters recessionary territory. Fitch says it doesn't foresee cutting France's AAA rating this year. Fitch also says countries under review, like Italy and Spain, could be cut one or two notches. Germany's Merkel and the IMF's LaGarde are slated to meet today in Berlin. Philips says European weakness will hurt its Q4 profits. The Bank of France says the economy stalled in the 4th quarter. Greece sells 6-month bills at a slightly lower yield. With Ashwani Kaul, Kaul Advisory Group.