September 23, 2012- European stocks have risen to a one week high following reports that a new reform will allow the possibility of a bailout for Spain. Novo Nordisk A/S (NOVOB) has displayed an impressive 1.3 percent climb following advice from UBS AG to investors to spend money on buying the charges. Vodafone Group PLC (VOD) also showed increase with their stocks gaining 2 percent, this time following Barclays Plc’s decision to increase price targets on the stock. Elan Corp also increased by 2 percent after a new chief operating officer was named for the company, with obvious benefits so far.
The economic reform has been declared by policy makers and is set to be unveiled next week in a bid to help Spain’s struggling economy. The raise in stocks has also come as a result of careful and precise advice handed over to European companies in order to help them reclaim some of their former reputation.
Portfolio manager at Notz Stucki & Cie. in Geneva, Pierre Mouton, who helps in the management of over $6 billion, has said, “Spain is the most critical country because all its economic actors — individual companies, banks and states — are indebted. There’s market speculation of a bailout, though the official line is still that Spain won’t seek one. If the bond spreads widen again, that will accelerate a bailout process.”