European stocks stage rebound on ECB stimulus
MG News | March 19, 2020 at 02:29 PM GMT+05:00
Mar 19, 2020: Europe's stock markets rebounded Thursday after a mixed open, as investors digested the European Central Bank's 750-billion-euro ($820-billion) bond-buying stimulus aimed at containing the economic damage from the coronavirus outbreak.
In initial deals, London's benchmark FTSE 100 index rallied 1.6 percent to 5,163.95 points and Frankfurt's DAX gained 1.9 percent at 8,603.44.
Paris was the star performer with the CAC 40 soaring 3.7 percent to 3,892.62 points.
After announcing the vast stimulus programme, ECB boss Christine Lagarde tweeted that "extraordinary times require extraordinary action. There are no limits to our commitment to the euro."
Those comments echoed the words of her predecessor Mario Draghi, whose pledge to do "whatever it takes" to preserve the eurozone was seen as a turning point in the region's sovereign debt crisis.
AFP/APP
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