Global risk appetite surged on Monday, boosting stocks and initially denting haven assets, after Dubai said it had received $10bn from Abu Dhabi to help cover its debts. The FTSE World index rose 0.8% with financial groups particularly strong in Europe as traders bet that the loan would curb any contagion from Dubai’s woes. Sentiment was also boosted by the return of ‘mega-merger Monday’ as ExxonMobil, the giant US energy group, said it would pay $31bn in shares to buy XTO Energy.

This entry was posted by Gwen Robinson on Tuesday, December 15th, 2009 at 5:37 and is featured in The 6am Cut London (15 Dec 2009) . Tagged with dubai world, ExxonMobil, Nakheel. Edit this entry.