Arab Today, arab today markets rally before ecb rate call
Last Updated : GMT 20:10:49
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.

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 markets rally before ecb rate call Arab Today, arab today markets rally 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 markets rally before ecb rate call Arab Today, arab today markets rally 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 US-made bomb used in fatal strike

GMT 10:16 2017 Saturday ,23 September

US-made bomb used in fatal strike
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