European shares start higher ahead of ECB verdict

European shares start higher ahead of ECB verdict

On Thursday, European stocks started higher because market participants were monitoring the European Central Bank's approaching monetary policy verdict, amid ascending expectations that the EU’s major financial institution will announce the unwinding of its highly anticipated asset-purchase program.

The EURO STOXX 50 grew 0.27%, Germany’s DAX 30 soared 0.56% and France’s CAC 40 gained 0.15%

The ECB was believed to leave interest rates intact later on Thursday. Traders were especially waiting for comments by ECB President Mario Draghi for any clues as for the future path of the key bank's stimulus program.

Besides this, market sentiment rose after Donald Trump concluded a shocking deal with Democrats in Congress for the purpose of extending the debt ceiling.

Well, if passed by the Republican-led Congress, the given agreement would ensure government funding until December 15, thus averting an unprecedented default on American government debt.

In London, FTSE 100 soared 0.04%, underpinned by Imperial Brands, whose equities rallied 2.94%.

 

 

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ECB report is in focus
ECB report is in focus

The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time. 

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