Stock Market News
Europe close: Stocks higher on hopes of ECB policy action
12-05-2014 16:56
Add To Google +1 | Tweet |
- Inflation to remain below one per cent, says ECB's Constancio
- Donetsk and Luhansk back plans to leave Ukraine
- Mining rally boosts stocks
FTSE 100: 0.61%
DAX: 1.47%
CAC 40: 0.78%
FTSE MIB: 0.93%
IBEX 35: 2.12%
Stoxx 600: 0.75%
European stocks rose after European Central Bank (ECB) Vice President Vitor Constancio said inflation will probably stay below one per cent for an extended period, raising hopes of policy action next month.
Speaking at a conference in Vienna on the banking union, Constancio said the medium-term inflation outlook will be a key factor when the ECB considers changing policy amid low consumer prices.
"The burden of servicing the debt and reducing the debt ratio, when nominal (economic) growth is so low, it's a possible cause of drag," he said, according to Reuters.
"We just have to look that since mid-2012 - when inflation was well above 2% in Europe - until now when it is indeed below 1 and very likely will stay below 1% for quite some time, the effect of the appreciation of the euro during this period explains the reduction in a inflation rate by 0.5 percentage points," he added.
ECB policymaker Ewald Nowotny today said an interest rate cut alone would be enough to curb low inflation in the Eurozone. Inflation has held below 1% for seven months in a row.
Ukraine
Ukraine's Donetsk and Luhansk regions have backed plans to separate from the rest of the country, according to RIA Novosti. Governments in Kiev, the US and the European Union (EU) said the referendums were illegal.
The EU has expanded its sanctions in connection to the unrest in Ukraine today to include two companies and 13 people, Bloomberg said, citing an official. Ukraine plans to hold presidential elections on May 25th.
Miners rally
A gauge of miners jumped the most in almost four months after JPMorgan Chase & Co. recommended buying shares in the sector on signs of a recovery in Chinese demand. The broker said Rio Tinto Group and BHP Billiton were the most attractive stocks in mining.
Sky Deutschland advanced after British Sky Broadcasting said it is working on a deal to acquire control of the company.
Alstom gained on news Siemens may offer to transfer its rail-signaling unit to Alstom Transport as part of an improved bid to take over the firm.
Air France-KLM Group climbed after saying the number of passengers carried increased 1.8% in April to 6.7m.
The euro fell 0.01% to $1.3756.
Brent crude futures increased $0.369 to $108.290 per barrel, according to the ICE.
RD
- Donetsk and Luhansk back plans to leave Ukraine
- Mining rally boosts stocks
FTSE 100: 0.61%
DAX: 1.47%
CAC 40: 0.78%
FTSE MIB: 0.93%
IBEX 35: 2.12%
Stoxx 600: 0.75%
European stocks rose after European Central Bank (ECB) Vice President Vitor Constancio said inflation will probably stay below one per cent for an extended period, raising hopes of policy action next month.
Speaking at a conference in Vienna on the banking union, Constancio said the medium-term inflation outlook will be a key factor when the ECB considers changing policy amid low consumer prices.
"The burden of servicing the debt and reducing the debt ratio, when nominal (economic) growth is so low, it's a possible cause of drag," he said, according to Reuters.
"We just have to look that since mid-2012 - when inflation was well above 2% in Europe - until now when it is indeed below 1 and very likely will stay below 1% for quite some time, the effect of the appreciation of the euro during this period explains the reduction in a inflation rate by 0.5 percentage points," he added.
ECB policymaker Ewald Nowotny today said an interest rate cut alone would be enough to curb low inflation in the Eurozone. Inflation has held below 1% for seven months in a row.
Ukraine
Ukraine's Donetsk and Luhansk regions have backed plans to separate from the rest of the country, according to RIA Novosti. Governments in Kiev, the US and the European Union (EU) said the referendums were illegal.
The EU has expanded its sanctions in connection to the unrest in Ukraine today to include two companies and 13 people, Bloomberg said, citing an official. Ukraine plans to hold presidential elections on May 25th.
Miners rally
A gauge of miners jumped the most in almost four months after JPMorgan Chase & Co. recommended buying shares in the sector on signs of a recovery in Chinese demand. The broker said Rio Tinto Group and BHP Billiton were the most attractive stocks in mining.
Sky Deutschland advanced after British Sky Broadcasting said it is working on a deal to acquire control of the company.
Alstom gained on news Siemens may offer to transfer its rail-signaling unit to Alstom Transport as part of an improved bid to take over the firm.
Air France-KLM Group climbed after saying the number of passengers carried increased 1.8% in April to 6.7m.
The euro fell 0.01% to $1.3756.
Brent crude futures increased $0.369 to $108.290 per barrel, according to the ICE.
RD
Related share prices |
---|
Stock News is provided by Digital Look Corporate Solutions from Sharecast news. Please read the terms and conditions of useage of this data. Republication or redistribution of content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Digital Look Ltd.
Get a free widget for your website with our latest headlines.
You can now add our live prices and new headlines to your website.The news widget features quotes for Oil prices, spot Gold price and Indices plus a choice of news channel for healines.
Top Shares pages
- Share price quotes
- Share charts
- Share watch list
- Company Results Calendar
- Top Large UK Shares
- UK Market Sectors
- Stock market news
- Company news
- Share tips
- A-Z company search
More share features
POPULAR Share Prices
- Royal Mail share price
- Lloyds share price
- HSBC share price
- Barclays share price
- Prudential share price
- Santander share price
- RBS share price
- Diageo share price
- Standard Life Share Price
- BP share price
- Vodafone share price
- British Airways
- Centrica share price
- Tesco share price
- Taylor Wimpey Share Price
- National Grid
- GKP Share Price
- Marks and Spencer
- Rolls Royce
- Rio Tinto
- Morrisons Share Price
- Aviva Share Price
- LGO Share price
- Tullow Oil Share Price
- SXX Share Price
- Easyjet Share Price
- Next Share Price
- Thomas Cook Share Price
- SSE Share Price
- IAG Share Price
- Bat share price
- Monitise Share Price
- Kingfisher share price
- Dragon Oil share price
- UKOG share price
- SOLG share price