News Headline Summary

European equity futures open up with solid gains as market participants react to fiscal cliff talks in the US, DAX equity futures up 2.2%, highest level since early 2008

- United States lawmakers approved a deal preventing huge tax hikes and spending cuts. By a vote of 257 to 167, the Republican controlled House of representatives approved a bill that fulfills President Barack Obama's re-election promise to raise taxes on top earners.
- The senate passed the measure earlier on New Year's day and Obama said he will sign it into law shortly.Spending cuts have been postponed for two months with a series of negotiations beginning between the White House and US Congress on America's debt ceiling.
- Obama said he will not negotiate over the need to increase the debt ceiling.

Print 07:08, 02 Jan 2013 - Market Analysis - Source: RANsquawk