ECB stimulus surprise sends stock markets sliding

European stock markets have fallen and the euro has soared following the economic stimulus measures announced by the European Central Bank.

After initially rising following the broader than expected package, Frankfurt closed down 2.3%, Paris ended 1.7% lower and the FTSE 100 slid 1.8%.

The euro initially fell 1.6% against the US dollar to $1.0822 before jumping as high as $1.1218.
It was one of the biggest one-day swings in the currency's history.
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Sharp rises for European banks were also largely wiped outThe ECB cut its main interest rate from 0.05% to 0% and cut its bank deposit rate, from minus 0.3% to minus 0.4%.

The bank will also expand its quantitative easing programme from €60bn to €80bn a month.
Stimulus,

Jasper Lawler, of CMC Markets, said: "Stocks came off highs of the day when some of the initial euphoria was nullified by the suggestion by ECB president Mario Draghi that rates would not be cut any further."

Simon Derrick, chief currency strategist at BNY Mellon: "If the intention of the ECB board was to help weaken the euro then their work was entirely undone by Mr Draghi's comments about the future path of rates."

John Hardy, head of currency strategy at Saxo Bank, said: "This was a much bigger bazooka than the market was expecting and shows the ECB trying to get ahead of the confidence curve after learning its lesson in December."

The stimulus measures announced three months ago have largely failed to drive economic growth higher or boost inflation.

Read more: ECB stimulus surprise sends stock markets sliding - BBC News

European Stock Markets Outperforming Wall Street - by Wanfeng Zhou

European stock markets have outperformed their U.S. counterparts lately as signs grew that the region's economy has finally turned the corner. But they are still lagging U.S. shares, which have hit record highs for the year to date.

"There is some talk of global money arriving in Europe as Europe claws its way out of recession," said Rupert Baker, a European equity sales executive at Mirabaud Securities.

Read more: Wall Street ends down on Fed uncertainty; data boosts Europe | Reuters

European shares post biggest one-day gain in seven months

The European share index recorded its biggest one-day gain in more than seven months on Tuesday, buoyed by strong earnings and as a downbeat German survey raised expectations of a rate cut by the European Central Bank (ECB).

Read more: European shares post biggest one-day gain in seven months - Independent.ie

Stock Markets: U.S. stocks drop after selloff in Europe

European stocks were sharply lower a day after U.S. stocks sustained some of their steepest declines this year. A monthly survey of European executives showed that business activity in the European Union slowed in February, a strong signal that a downturn that began last year will continue into 2013.

Stock indexes in France, England and Germany finished the day down more than 1.5%.

Signaling that the U.S. labor market remains in slow recovery mode, the government said more people applied for unemployment benefits last week.

In the US Stocks continued a two-day slide Thursday on weak economic data and concern about the Federal Reserve's resolve to keep juicing the market.

The Dow Jones industrial average and the Standard and Poor's 500 and the Nasdaq composite indexes down at least 0.4% in afternoon trading.


Read more: U.S. stocks drop after selloff in Europe

European Stock Markets: Germany Leads Resurgence in Europe Stocks

Germany's benchmark Dax share index closed at a near five-year high on Thursday, near the end of a year in which European equities have outpaced global and US rivals for the first time since the depths of the global economic crisis.

The resurgence in equities shows how investors have re-rated euro zone break-up risks following a pledge by Mario Draghi, European Central Bank president, to safeguard the euro zone's integrity.
European stocks are up almost 4 percent so far this quarter, while US equities are down 2 percent, according to their respective benchmark indices. Over the year so far Europe has now cantered past the U.S., with more than a 15 percent total return on the MSCI index compared with less than 14 percent in the US.

The rally remained intact even after gloomy ECB growth forecasts released following the central bank's interest rate-setting meeting in Frankfurt.

Read more: Germany Leads Resurgence in Europe Stocks

China factory data boost Europe stocks - Europe Markets - MarketWatch

European stock markets were on track for a fourth day of gains Thursday, as upbeat Chinese factory data lifted the global trading mood, and a cease-fire in the Middle East brought relief.

U.S. markets were closed for the Thanksgiving holiday, which could keep trading volumes in Europe thinner

China factory data boost Europe stocks - Europe Markets - MarketWatch

European stocks rebound on positive earnings, UBS jub cuts

While Wall Street remained closed and likely also to remain closed tomorrow European stock markets and the euro rebounded on Tuesday as investors cheered positive company earnings and reacted to news of thousands of job cuts at Swiss bank UBS, despite a lull in trading caused by the monster US storm Sandy.

London's FTSE 100 index of top companies rose by 0.77 percent to stand at 5,839.53 points in afternoon deals.

Frankfurt's DAX 30 won 0.91 percent to 7,268.50 points and in Paris the CAC 40 gained 1.31 percent to 3,453.58.

Madrid's IBEX 35 jumped 1.18 percent to 7,819.9 points despite data showing that the Spanish economy contracted by 0.3 percent in the third quarter.


Read more: European stocks rebound on positive earnings, UBS jub cuts