European Stock Markets Set to Open Higher After Announcement of ECB’s Stimulus Measures
Arslan Butt • 1 min read
European stock markets look set to trade in the green today following ECB’s announcement of stimulus measures to revive the weakening Eurozone economy. Earlier today, Asian stock markets also rallied as the market sentiment was boosted by ECB’s recent announcement and expectations of a thaw in US-China trade tensions.
The ECB announced a 10bps cut in its deposit rate and the restarting of its QE program on November 1 for bond purchases worth 20 billion euros every month. The bond purchase program could extend for as long as the bank sees necessary to lift the Eurozone economy.
European stock markets could be impacted by Eurozone’s trade balance and wages data due later today. At the time of writing, the main German index DAX is trading at a little above 12420.