By Greg Peel

The Dow closed up 101 points or 0.8% while the S&P gained 1.2% to 1275 and the Nasdaq added 1.2%.

These episodes of In Europe Tonight are really starting to get quite dramatic.

Filming has now moved to Rome but there are still some loose ends of the plot to tie up in Athens. There it is believed the new Greek prime minister will indeed be Lucas Papademos and his leadership of Greece's new unity government is expected to be confirmed shortly. Papademos is the popular choice given his former role as ECB vice-president.

Over in Italy it was a night of high drama and, yet again whenever Europe is concerned, of contrasting news flow.