European
stocks shot higher today as investors enjoyed a respite from volatile
Chinese markets being closed for a long holiday weekend and took
cheer from hints of more central bank stimulus. London's FTSE 100
index of leading shares climbed 1.45 per cent to stand at 6,171.44
points, Paris's CAC 40 index jumped 1.8 per cent to 4,637.21 and in
Frankfurt the DAX 30 soared 2.27 per cent to 10,276.17. A rally on
Wall Street yesterday on upbeat US data also helped improve sentiment
in European trading, as did calm on Asian markets. "At least for
a few days, concerns over China can be put to one side while the
country closes its exchanges to celebrate seventy years since the end
of World War II," said CMC Markets UK analyst Jasper Lawler.
Meanwhile the European Central Bank, as expected, kept its main rate
at a record low 0.05 per cent today. However, analysts were looking
more for signals that it could step up stimulus if necessary. Beyond
causing panic in stock markets in recent weeks, slower growth in
China -- the world's number two economy -- has led to drops in
commodity prices and a rebound in the euro that are complicating the
ECB's efforts to combat deflation and restore growth. The ECB
acknowledged inflation could turn negative again temporarily, and the
bank cut its forecasts for inflation and growth. ECB chief Mario
Draghi said the bank could step up or extend its stimulus programme
that is buying 60 billion euros of sovereign and corporate bonds per
month. "The asset purchase programme provides sufficient
flexibility in terms of adjusting the size, composition and
duration", said Draghi at a news conference. It was "intended
to run until the end of September 2016, or beyond, if necessary,"
he added. The euro, which had been holding around USD 1.1220, fell
more than a cent to below USD 1.1120 immediately after Draghi's
comments. European stock markets also shot up further after Draghi
spoke. "Following the wild sell-off in the equity complex, the
central banks are naturally expected to remain fully supportive of
the financial markets," said Ipek Ozkardeskaya at London Capital
Group, who put an increase in US interest rates to December at the
earliest. In corporate action, shares in low-cost airline EasyJet
soared 5.0 per cent to 1,756 pence after it raised its full year
pre-tax profit forecast to a record 675-700 million pounds (USD
1.03-1.07 billion).
Subscribe to:
Post Comments (Atom)
ఐపిఓల సందడి, నిధుల సేకరణ దండి
ప్రైమరీ మార్కెట్లో ఈ ఏడాది (2024) ఐపీఓ సందడి జోరుగా ఉంది. ఏడాది మొత్తం మీద 90 ప్రధాన ఇష్యూల ద్వారా కంపెనీలు రూ.1.6 లక్షల కోట్లు సమ...
-
fo r April 25, 2019 Closing Subdued Tithi : Chaitra Krishna Saptemi Nakshatra : Poorvashadha Persons born in Mrigasira, ...
-
మార్కెట్ విలువలో బిఎస్ఇ కొత్త రికార్డు బొంబాయి స్టాక్ ఎక్స్ఛేంజిలో (బిఎస్ఇ) లిస్టింగ్ అయిన కంపెనీల ఉమ్మడి మార్కెట్ విలువ మంగళవారం (202...
-
దేశంలో సుజుకి మోటార్ కార్పొరేషన్ (ఎస్ఎంసి) మూడు కోట్ల కార్ల ఉత్పత్తి మైలురాయిని దాటింది. అయితే తన మాతృదేశంలో ఈ మైలురాయిని సాధించిన సమయం...
No comments:
Post a Comment