LONDON (AP) — European markets were steady Monday ahead of a meeting between the leaders of France and Germany on how to restore confidence in the euro, while Chinese shares surged after the country’s monetary authorities pledged to increase bank lending to entrepreneurs.
Investors will likely focus this week on Europe’s efforts to deal with its debt market turmoil. The meeting between French President Nicolas Sarkozy and German Chancellor Angela Merkel is their first of the year and investors will want to see how the “fiscal compact” agreed in December is being fleshed out.
All EU countries but Britain agreed at the time to consider a new treaty to enforce tougher budget controls by March this year.
