It has been revealed according to recent reports that the shares in the Mobile operating firm Vodafone have rallied in the recent times. This has come as a reaction of the announcement it made according to the joint venture with Verizon Wireless that they would pay the first dividend. With the debt ceiling raising in US it was becoming exceedingly difficult for many firms to keep up with the competency of the market.

These new developments have come as a respite. The worst playing in this race were the Bank stocks which seem to see no end of the downhill movement. Projections are also of the view that there might be a further fall witnessed in the stocks.

There was also a drop witnessed in the FTSE 100 index, while the other markets across Europe also saw a decline resulting after the U. S. debt reduction plans.

Vodafone Chief Executive, Vittorio Colao was of the view that “Our long term partnership in Verizon's strong and successful wireless business has seen the value of our investment increase significantly over recent years. The dividend allows us not only to reward our own shareholders with an immediate and sizeable cash return, but also to continue to reinvest in our business”.