Euro Finally Goes Higher

The euro turned higher on Tuesday as solid demand at debt auctions eased concerns about euro zone debt problems after Monday's downgrade of Greece to junk status by Moody's ratings agency.

The euro erased brief losses seen in the wake of a weak German ZEW investor sentiment survey, which renewed concerns about the negative effects of the euro zone debt crisis on the wider economy, Reuters informs.

Shares in British Sky Broadcasting jumped nearly 21 percent in London after it rejected a buyout offer from Rupert Murdoch's News Corp. that values the company at 12 billion pounds ($17.7 billion).

BSkyB said it would consider a sweeter offer, which some analysts expect to be forthcoming.

The optimism over renewed corporate deal-making helped offset weak economic data in Europe, The Associated Press reports.

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