Arab Today, arab today european stocks rebound before ecb rate call
Last Updated : GMT 22:02:46
Arab Today, arab today
Arab Today, arab today

European stocks rebound before ECB rate call

Arab Today, arab today

Arab Today, arab today European stocks rebound before ECB rate call

Alcatel-Lucent's Chief Executive Officer Michel Combes (L)
London - AFP

European equities rebounded Wednesday as weak Chinese economic growth data stoked Beijing stimulus hopes, while traders geared up for the latest eurozone interest rate call and eyed rising oil prices.

Sentiment was also boosted after Finnish telecoms giant Nokia agreed a 15.6-billion-euro ($16.5-billion) takeover of Franco-American rival Alcatel-Lucent.

The deal, creating the world's biggest supplier of mobile phone network equipment, sent Alcatel shares slumping more than 12 percent in Paris -- but Nokia won 1.8 percent in Helsinki.

The merger of two companies -- once high-flying new technology stars -- is aimed at producing a European champion able to take on Nokia's Swedish rival Ericsson and fierce Chinese competition.

In late Paris morning deals, the benchmark CAC 40 index rallied 0.64 percent to 5,251.26 points and Frankfurt's DAX 30 won 0.47 percent to 12,285.26 compared with Tuesday's close.

London's FTSE 100 index advanced 0.32 percent to 7,099.11 points, aided partly by news of sparkling sales from luxury goods company Burberry.

Dealers remained on tenterhooks before the outcome of the latest monetary policy meeting of the European Central Bank (ECB) at 1145 GMT.

"Wednesday has brought with it a wave of positive trading in Europe," said Spreadex analyst Connor Campbell.

"It is likely that the latest push by Brent crude, the increasing chances of more stimulus in China, the latest M&A news from Nokia and Alcatel-Lucent, and the hope that Mario Draghi will be bullish on ECB QE's continued implementation this afternoon, has overridden the negative UK election/Greek debt saga-inspired trading environment that defined the start of the week."

In foreign exchange activity, the European single currency retreated to $1.0584 from $1.0654 late in New York on Tuesday.

- ECB eagerly awaited -

ECB chief Mario Draghi is not expected to announce any changes in policy at the governing council's regular meeting.

But he is likely to underline the positive effects of a raft of different policy measures, including a contested sovereign bond purchase programme -- known as quantitative easing (QE) -- launched last month.

And he will be at pains to emphasise that there are no plans to "taper" the measures any time soon, analysts said.

"Today’s major event is the ECB meeting and press conference," added FxPro analyst Angus Campbell.

"Here investors will be keen to hear what Mario Draghi has to say about the QE programme and the ECB’s thoughts on the ongoing Greece negotiations. Greek banks continue to rely heavily on the ECB for their funding."

Markets were also lifted by rebounding world oil prices, with Brent crude above $59 per barrel on hopes of an easing global supply glut.

"Oil related stocks are very sensitive to the price of oil as it directly impacts their profitability," Oanda analyst Craig Erlam told AFP.

"Just as we saw when oil prices were tumbling, the heavy weighting of these large stocks in the indices will often play a big role in their direction on the day."

- China stimulus hopes? -

Across in Asia, Hong Kong stocks ticked higher but Shanghai sank after a further slowdown in Chinese economic growth, while Tokyo dipped on a stronger yen.

Shanghai tumbled 1.24 percent but Hong Kong closed up 0.21 percent.

China said its economy expanded 7.0 percent in the first three months of 2015, slightly better than forecast in an AFP survey but much slower than October-December. It was also the worst for a single quarter since the first three months of 2009, in the depths of the global financial crisis.

The figures are the latest to highlight a slowdown in the economy and will likely increase expectations Beijing will announce more stimulus on top of two interest rate rises since November.

The economy grew last year at its slowest pace in almost a quarter of a century, buffeted by weak manufacturing, slow domestic demand and low government investment, among other factors.

Disappointing US retail sales data has meanwhile dampened hopes of an early interest rate cut from the Federal Reserve.

arabstoday
arabstoday

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 european stocks rebound before ecb rate call Arab Today, arab today european stocks rebound before ecb rate call

 



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 european stocks rebound before ecb rate call Arab Today, arab today european stocks rebound before ecb rate call

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today unveils Joon - the 'millenials' airline

GMT 13:36 2017 Saturday ,23 September

unveils Joon - the 'millenials' airline
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Iran tests new medium-range missile

GMT 21:24 2017 Saturday ,23 September

Iran tests new medium-range missile
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today All eyes on May as she prepares

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares
Arab Today, arab today Big Western brands polluting oceans

GMT 20:10 2017 Saturday ,23 September

Big Western brands polluting oceans
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Carmakers face billions in European

GMT 12:37 2017 Saturday ,23 September

Carmakers face billions in European
Arab Today, arab today Mercedes pumps 1 bln euros    

GMT 06:04 2017 Friday ,22 September

Mercedes pumps 1 bln euros    
Arab Today, arab today Lebleba is preoccupied in filming 'Back Street'

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program

GMT 18:09 2017 Thursday ,21 September

China lifts 10-year travel ban

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 08:39 2017 Friday ,22 September

New Hurdles as Republicans Rush

GMT 06:49 2017 Friday ,22 September

O'Leary: Could ground more planes

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
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