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European stocks head for fourth week of gains post-ECB

Video Credit: Reuters Studio - Duration: 01:41s - Published < > Embed
European stocks head for fourth week of gains post-ECB

European stocks head for fourth week of gains post-ECB

European shares ground out gains for the fourth day running on Friday as signs of progress in U.S.-China trade talks propped up shares after a mixed response to stimulus from the European Central Bank a day earlier.

David Pollard reports.

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European stocks head for fourth week of gains post-ECB

Asian stocks at six week highs - Europe heading to a fourth week of gains.

Friday's share trading was on course to a positive close to the week.

Thanks to ECB chief Mario Draghi ... And thanks to Donald Trump.

Traders took the US president's apparent willingness to consider an interim trade deal with China ... As a sign of a thaw in relations.

After Wall Street's S&P500 closed within a whisker of an all-time high Japan's Nikkei hit a four-month peak.

Japanese, US and European longer-dated bond yields rose too - to six-week highs, as investors sold out of debt in search of more lucrative assets.

(UPSOT) (English) EUROPEAN CENTRAL BANK PRESIDENT MARIO DRAGHI, SAYING: "The risks surrounding the euro area growth outlook remain tilted to the downside ...." Europe's open was muted after the European Central Bank's policy decision on Thursday.

A rate cut plus a restart to its QE programme also got an angry reaction in Germany's Das Bild newspaper.

"The horror for German savers goes on and on", it wrote - as "Count Draghila" sucks accounts dry - by denying them a decent return on their savings.

Debate also raged over how just effective the ECB can be in reviving the euro zone economy.

Robert Halver of Baader Bank.

(SOUNDBITE) (German) HEAD OF CAPITAL MARKET ANALYSIS AT BAADER BANK, ROBERT HALVER, SAYING: "Cheap money only helps borrower countries such as Italy.

They can now run up even cheaper debt .

But private businesses, companies and consumers gain nothing." On currency markets, though, the euro did gain.

Hitting a 17-day high against the dollar - on a growing belief the ECB may now be done with stimulus.




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