Arab Today, arab today markets rally before ecb rate call
Last Updated : GMT 06:10:40
Arab Today, arab today
Arab Today, arab today

Markets rally before ECB rate call

Arab Today, arab today

Arab Today, arab today Markets rally before ECB rate call

London - AFP

European stocks jumped Wednesday on hopes that the European Central Bank could deliver more stimulus measures to fight the region\'s debt crisis, dealers said. In morning deals, London\'s benchmark FTSE 100 index soared 1.41 percent to 5,335.51 points, as British investors returned after a long four-day holiday weekend to celebrate Queen Elizabeth II\'s diamond jubilee. In Paris, the CAC 40 gained 2.21 percent to 3,052.01 points and Frankfurt\'s DAX 30 leapt 2.05 percent to 6,091.43, despite news that credit rating agency Moody\'s has cut ratings on six major German banks. Madrid\'s IBEX 35 index surged 3.10 percent to 6,461.90 points, led by sharp gains in the banking sector. The European single currency meanwhile rose to $1.2509, compared with $1.2450 late in New York on Tuesday. Later this morning, at 1145 GMT, the ECB is to announce in Frankfurt the outcome of its latest monetary policy meeting. The central bank is widely predicted to refrain from cutting borrowing costs this month below their current historic low of 1.0 percent. Some analysts speculated that the ECB could decide to introduce more emergency fire-fighting measures aimed at preventing a spread of the eurozone crisis. \"European equity markets are trading moderately higher this morning ... ahead of today\'s eagerly awaited ECB meeting,\" said ETX Capital trader Markus Huber. \"While generally chances are considered as slim that the ECB will lower rates and/or resume their periphery bond purchasing program ... it cannot necessarily be excluded completely altogether.\" ECB policymakers would be mindful of the slowdown in eurozone inflation, alongside the recent deterioration in the eurozone\'s long-running sovereign debt crisis, he added. \"Traders are wary of holding short stock index positions ahead of today\'s ECB meeting just in case the central bank decides to intervene further,\" agreed analyst David Morrison at traders GFT Markets. The bank is under increasing pressure as the eurozone debt crisis, which has already resulted in EU/IMF rescue deals for Ireland, Greece and Portugal, threatens to sink Spain -- which many analysts argue is too big to bail out. The euro had struck $1.2288 last Friday, hitting the lowest level since July 1, 2010, as markets were rocked by speculation that debt-plagued Spain could be forced into a bailout. Spanish Prime Minister Mariano Rajoy has refused so far to seek financial assistance from the European Union that would come with strings attached, but has acknowledged that the situation with the banks is critical. Sentiment was boosted on Wednesday after Asian markets mostly rose, as European members of the Group of Seven (G7) industrialised economies promised a swift response to the eurozone crisis. Hong Kong rose 1.43 percent, Tokyo won 1.81 percent and Sydney also edged up 0.29 percent after data showed that the Australian economy grew better than expected in the January-March period. In an emergency teleconference Tuesday, the European members of the G7 vowed to respond \"speedily\" to the continent\'s crisis, according to Japanese Finance Minister Jun Azumi. \"We were able to share our recognition on the European issue,\" he was quoted as saying by Jiji Press after the G7 ministers and central bank chiefs talked. \"The European side stated that they will respond to it speedily.\" Some analysts expressed disappointment, however, saying the leaders appeared to lack a sense of urgency. Also providing some support was a report in the Wall Street Journal which said that the US Federal Reserve was again contemplating stimulus measures in the wake of weak data from Asia to Europe and the United States.

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 markets rally before ecb rate call Arab Today, arab today markets rally before ecb rate call

 



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 17.4 million tourists visit UAE in 2016

GMT 00:47 2017 Monday ,27 February

17.4 million tourists visit UAE in 2016
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 Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
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 Reasons for the delay 'On the Stairs of Servants'

GMT 06:42 2017 Saturday ,25 February

Reasons for the delay 'On the Stairs of Servants'
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan

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 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 01:04 2017 Tuesday ,28 February

Nokia 3310 is back — and so is 'Snake'

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