Germany's top court lifted global shares to a five-month high, boosted Italian and Spanish bonds and sent the euro to its highest since early May, by finally giving its go-ahead to the euro zone's new crisis-fighting fund.
The MSCI global share index .MIWD00000PUS which is up 6.5 percent since the end of July, hit a five-month high of 331.99 points before dipping back slightly as bouts of profit-taking set in.
"The (equities) market will rally on this, and the financials will lead this rally," said Gerard Lane, Equity Strategist at Shore Capital. "The fear was they were going to say ‘nein', so the 20 percent down in the market that we could have had is off the table."
