European stocks were sharply higher on Friday, as news on Thursday
that the European Central Bank is launching a large scale quantitative
easing program continued to lend broad support to equity markets.
During European morning trade, the EURO STOXX 50 jumped 1.10%, France’s CAC 40 advanced 1.14%, while Germany’s DAX 30 rallied 1.29%.
European equities were boosted after ECB President Mario Draghi on Thursday said it will make monthly purchases of €60 billion per month, starting in March and continuing until late 2016.
Draghi acknowledged the action the ECB took last year was “insufficient” to ward off the threat of deflation in the region.
Earlier Friday, research firm Markit said that Germany's preliminary manufacturing purchasing managers' index ticked down to 51.0 this month from 51.2 in December, compared to expectations for a rise to 51.7.
The German preliminary services PMI rose to 52.7 in January from 52.1 the previous month, exceeding expectations for a rise to 52.5.
Markit also said that France's preliminary manufacturing PMI rose to 49.5 this month from 47.5 in December, beating expectations for a rise to 48.1.
Read more Click here / www.trade4x.net
During European morning trade, the EURO STOXX 50 jumped 1.10%, France’s CAC 40 advanced 1.14%, while Germany’s DAX 30 rallied 1.29%.
European equities were boosted after ECB President Mario Draghi on Thursday said it will make monthly purchases of €60 billion per month, starting in March and continuing until late 2016.
Draghi acknowledged the action the ECB took last year was “insufficient” to ward off the threat of deflation in the region.
Earlier Friday, research firm Markit said that Germany's preliminary manufacturing purchasing managers' index ticked down to 51.0 this month from 51.2 in December, compared to expectations for a rise to 51.7.
The German preliminary services PMI rose to 52.7 in January from 52.1 the previous month, exceeding expectations for a rise to 52.5.
Markit also said that France's preliminary manufacturing PMI rose to 49.5 this month from 47.5 in December, beating expectations for a rise to 48.1.
Read more Click here / www.trade4x.net
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