euro jumps stocks rise as ecb keeps stimulus in place
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Euro jumps, stocks rise as ECB keeps stimulus in place

Arab Today, arab today

Arab Today, arab today Euro jumps, stocks rise as ECB keeps stimulus in place

European Central Bank chief Mario Draghi
London - AFP

Europe's main stock markets climbed and the euro jumped against the dollar Thursday after the ECB said it is keeping its vast armory of economic stimulus measures in place, but would revisit them in October. 

As European Central Bank chief Mario Draghi voiced concern over the single currency's strength, which is putting the brakes on inflation at a time when policymakers are looking to wind down stimulus measures, the euro jumped above $1.20.

"The recent volatility in the exchange rate represents a source of uncertainty which requires monitoring," Draghi said as the ECB its left interest rates at all-time lows and said it would stick to its mass bond-buying programme. 

Draghi said the ECB would decide next month about its next stimulus moves.

"This autumn we will decide on the calibration of our policy instruments beyond the end of the year," he said. 

"Unless a risk that is not seen today materialises, we should be ready to take the bulk of these decisions in October." 

On the other side of the Atlantic, prices on Wall Street were treading water as market watchers eyed a second major US hurricane, Irma, considered possibly the largest in history, that was expected to pummel Florida and neighboring states. 

Earlier in Asia, stock markets had struggled to hold on to initial gains with the North Korea crisis continuing to play on investor confidence despite US President Donald Trump's deal to raise the US debt ceiling.

Markets rallied at the start of the day as the surprise deal between the president and Democrats to lift the US borrowing limit provided some much-needed good news at the end of a turbulent week.

The news raised hopes again for the president's market-friendly economic agenda, including tax reform and infrastructure spending, which have been sidetracked in recent months.

While tensions over Pyongyang's weekend nuclear test have abated there are fears the North is planning to launch another missile this weekend, riling an already furious Unites States.

Trump's insistence to Chinese counterpart Xi Jinping that military action was not his "first choice" and a call for a diplomatic solution provided some solace but fresh provocation could rattle markets again.

On currency markets the dollar lost some of Wednesday's gains against the haven yen, while traders took stock of the surprise resignation of Federal Reserve number two Stanley Fischer, who is considered one of the bank's less dovish members.

Analysts said the announcement could clear the way for boss Janet Yellen's departure when her term ends next year and allow Trump to determine the focus of the Fed by selecting officials perhaps less likely to raise interest rates or favour stringent bank regulations.

- Key figures around 1540 GMT - 

New York - DOW: DOWN 0.2 percent at 21,770.66 points

London - FTSE 100: UP 0.6 percent at 7,396.98 (close)

Frankfurt - DAX 30: UP 0.7 percent at 12,296.63 (close)

Paris - CAC 40: UP 0.3 percent at 5,114.62 (close)

EURO STOXX 50: UP 0.4 percent at 3,447.66 (close)

Tokyo - Nikkei 225: UP 0.2 percent at 19,396.52 (close)

Seoul - Kospi: UP 1.1 percent at 2,346.19 (close)

Hong Kong - Hang Seng: DOWN 0.3 percent at 27522.92 (close)

Shanghai - Composite: DOWN 0.6 percent at 3,365.50 (close)

Euro/dollar: UP at $1.2029 from $1.1982

Pound/dollar: UP at $1.3094 from $1.3076 

Dollar/yen: DOWN at 108.21 yen from 108.87 yen

Oil - Brent North Sea: DOWN five cents at $54.15 per barrel

Oil - West Texas Intermediate: DOWN 21 cents at $48.95

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*

euro jumps stocks rise as ecb keeps stimulus in place euro jumps stocks rise as ecb keeps stimulus in place

 



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*

euro jumps stocks rise as ecb keeps stimulus in place euro jumps stocks rise as ecb keeps stimulus in place

 



GMT 12:47 2016 Thursday ,01 September

'La La Land' musical masterpiece dazzles Venice film fest

GMT 12:42 2017 Monday ,20 February

Dalia al-Behairy begins 'Yawmiyat Zoga Mafrosa'

GMT 19:01 2017 Wednesday ,30 August

Oil prices down as US reels from Harvey

GMT 04:19 2017 Monday ,08 May

National forces attack mercenaries in Taiz

GMT 19:21 2017 Sunday ,07 May

Iranian Film Week opens in Baghdad

GMT 21:33 2017 Sunday ,30 July

Arab Quartet meeting kicks off in Bahrain

GMT 17:17 2016 Friday ,07 October

Aleppo bleeds as US and Russia spar

GMT 12:03 2015 Monday ,21 December

Nepal protester killed in constitutional crisis clash

GMT 09:47 2016 Thursday ,22 December

Trump vows to cut F-35 spending, as leaked memo

GMT 21:44 2017 Friday ,15 December

King establishes Hawar Development Committee

GMT 20:57 2017 Tuesday ,16 May

Naval Forces rescue 23 tourists in Hurghada

GMT 12:56 2017 Monday ,11 December

Lyon leave it late, Balotelli with Nice winner

GMT 06:18 2017 Thursday ,19 October

Russian delegation meets with Julphar chairman

GMT 21:20 2017 Monday ,23 October

Nasr, delegation of London Stock Exchange

GMT 14:40 2012 Saturday ,10 March

Magdy Al-Galad steps down

GMT 09:47 2017 Sunday ,12 March

Cat Camp in New York attracts cat lovers

GMT 14:57 2016 Friday ,09 September

Madonna, Ritchie settle child custody dispute

GMT 23:52 2017 Monday ,18 September

UAE economic growth boosting logistics sector
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

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday