Arab Today, arab today ecb bondbuying plan boosts financial markets
Last Updated : GMT 14:00:14
Arab Today, arab today
Arab Today, arab today

ECB bond-buying plan boosts financial markets

Arab Today, arab today

Arab Today, arab today ECB bond-buying plan boosts financial markets

Rome - ANSA

European stock markets rallied Thursday and Milan\'s FTSE MIB jumped by more than 4% after the European Central Bank announced a much-anticipated bond-buying plan. In Milan, the FTSE MIB gained 4.31% to reach 15,780 while the FTSE Italia All-Share index jumped by 3.98% to close at 16,631 points, in reaction to the plan announced by ECB President Mario Draghi to ease funding pressures on troubled governments. The spread between Italian and German bonds narrowed throughout the day as financial markets cheered the bond-buying plan designed to lower borrowing costs for states such as Italy and Spain. The program provides a \"backstop\" that will allow the central bank to deal with market distortions driven by fear, Draghi told a news conference. His words had a quick and dramatic effect on markets. As he spoke, the spread between Italy\'s 10-year bond and the German Bund - a reflection of investor confidence - fell to 378 basis points with the yield of 5.33%. By the end of the European trading day, the spread had slid to 370 points, with a yield of 5.26% on 10-year Italian paper. At some of Italy\'s worst moments in the current sovereign debt crisis, the spread had topped 500 basis points. Draghi said ECB policy-makers agreed on an unlimited bond-purchase program in order to better manage interest rates in the euro area and provide some protection for the common currency by countering financial-market speculation about the euro\'s future. \"Under appropriate conditions, we will have a fully effective backstop to avoid destructive scenarios,\" he said. The \"appropriate conditions\" clause tells governments in troubled countries, including Italy and Spain, that they must request assistance under the program and live with whatever stringent conditions may be imposed. Buoyed by the new program, Madrid\'s IBEX jumped by 4.91% to close at 7, 862 points Thursday while London\'s FTSE-100 index gained 2.11% to 5,777.34 points. Similarly, Paris\'s CAC 40 index rose by 3.06% to close at 3,509.88, while Frankfurt\'s DAX index gained 2.91 to close at 7,167.33.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today ecb bondbuying plan boosts financial markets Arab Today, arab today ecb bondbuying plan boosts financial markets

 



Arab Today, arab today
Arab Today, arab today Mohamed Bahari prepares new collection for spring 2017

GMT 06:15 2017 Monday ,27 February

Mohamed Bahari prepares new collection for spring 2017
Arab Today, arab today As Olympics loom, China plunges into snow biz

GMT 10:08 2017 Tuesday ,28 February

As Olympics loom, China plunges into snow biz
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today UN envoy sets out framework

GMT 07:25 2017 Monday ,27 February

UN envoy sets out framework
Arab Today, arab today Kalam Nawaem made a difference in social issues

GMT 06:43 2017 Tuesday ,28 February

Kalam Nawaem made a difference in social issues
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Parliament considers solutions to overpopulation

GMT 20:27 2017 Monday ,27 February

Parliament considers solutions to overpopulation
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Aspires present the story of Egypt’s first president

GMT 06:18 2017 Sunday ,26 February

Aspires present the story of Egypt’s first president
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 06:42 2017 Saturday ,25 February

Reasons for the delay 'On the Stairs of Servants'

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 10:51 2017 Saturday ,25 February

Pigs with edited genes show resistance

GMT 18:28 2017 Saturday ,25 February

Tourist guide explains types of tourism

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 06:28 2017 Tuesday ,28 February

Dumbphones survive rise of the smartphone

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday