Fund managers give guarded welcome to rescue deal

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EUROPE - Finance practitioners generally echoed the welcome markets gave to details of the latest, expanded eurozone rescue deal, but said the "eye of the storm" will now move to focus on Italy and its beleaguered ruling coalition.

Dan Morris, global strategist at JP Morgan Asset Management, said the market's initial reaction - equities, commodities and euro rising, while government debt fell - was "quite positive. Key to this reaction...

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