It shouldn't, although the strong performance of the financials in general will boost the same here. Note that Merill Lynch and Goldman Sachs are up "only" 5-10%.
The reason for MER's stellar rise today is the $9 billion equity agreement that MER has reached with Mitsubishi UFJ in a global strategic alliance; guaranteeing the survival of MER for a while yet.
Read the article linked below if you want to see my source:
http://www.marketwatch.com/news/story/mitsubishi-ufj-financial-group-closes/story.aspx?guid=%7BBB51FE8D-E99F-4F47-A144-8DBB4DB1E864%7D&dist=hppr
Still, it's looking positive at the moment for the XAO and
XJO
BNB
babcock & brown limited
It shouldn't, although the strong performance of the financials...
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