European markets up as Strauss-Kahn quits IMF

European markets climbed this morning on news IMF head Dominique Strauss-Kahn had resigned following sex crime allegations.

In London, the FTSE 100 gained 0.69% to reach 5,965, while the French Cac 40 index hit the 4,000 mark, a gain of 0.57%. The German Dax rose 0.65% to 7,351. Strauss-Kahn has been accused of attempted rape of hotel maid in New York and is being held in New York's Rikers prison. He denies the allegations and said he will fight to clear his name. Europe's recovery follows a rebound on Wall Street yesterday as the the Federal Reserve indicated it would continue to keep interest rates low. The Dow Jones gained 0.65% to reach 12,560, while the S&P 500 climbed 0.88% to 1,341. The Nasdaq Co...