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US markets gain as Europe acts

Austerity package in Italy, steps in Greece help ease concerns

By Christine Hauser
New York Times / November 12, 2011

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Stocks surged in the United States and in Europe on Friday after a package of austerity measures cleared a hurdle in Italy and as Greece moved closer to completing a national unity government. The political developments in Europe helped steady the broad market in the United States and the Standard & Poor’s 500-stock index finished with a gain of 0.9 percent for the week, which included a one-day decline of 3.7 percent on Wednesday.

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