Greek PM changes course, stocks rise – 11/3/11


Beleaguered Prime Minister George Papandreou backed away from plans for a public vote on a bailout deal for Greece as his government appeared on the verge of toppling. The renewed indication that the effort to stabilize the Euro-zone would succeed boosted stock prices around the globe. The Dow Jones Industrial Average rose 208 points, or 1.8%, to 12,044 – back above the 12K mark. Broadcasting stocks were also higher.

The RBR Radio Index was up 2.587, or 0.9%, to 290.959.

The TVBR Television Index was up 3.182, or 1.3%, to 250.187.

Entravision, up 7.4%
Entercom, up 6.4%
Saga, up 4.6%

Sinclair, down 5.8%
CC Media, down 5.3%
Dial Global, down 2.8%