21 Oct 2015
European stocks rally ahead of ECB meet
FXStreet (Mumbai) - The European stock markets erased early losses and turned positive as investors expect the ECB to provide a hint of more QE and/or rate cut at its meeting tomorrow.
The pan-European Euro Stoxx 600 index advanced almost 1% to trade around 363.60 levels. The gains were triggered by a rally in industrial group stocks and technology stocks. Mining stocks suffered losses on lingering concerns regarding China.
The weak Japanese export figures released today further underscored anaemic global demand. However, the European investors turned a blind eye towards the same as expectations build that the ECB may add to its quantitative easing programme in order to tackle deflation.
The pan-European Euro Stoxx 600 index advanced almost 1% to trade around 363.60 levels. The gains were triggered by a rally in industrial group stocks and technology stocks. Mining stocks suffered losses on lingering concerns regarding China.
The weak Japanese export figures released today further underscored anaemic global demand. However, the European investors turned a blind eye towards the same as expectations build that the ECB may add to its quantitative easing programme in order to tackle deflation.