Here’s a quick rundown:
- France: +2.9%, banks +5.7%
- Germany: +2.1%, banks +4.0%
- Spain: +2.7%, banks +4.5%
- Italy: +2.0%, UniCredit +4.0%
Last week, there were rumblings out of the Bundesbank that the ECB could be preparing to cut interest rates should further deterioration in the economic data warrant such action.
This morning, with German PMI falling to a 5-month low – indicating a deepening contraction in the German manufacturing sector – markets seem to think this will provide exactly the impetus that Bundesbank President Jens Weidmann hinted at last week.
U.S. markets too have opened on a firm note. Dow, Nasdaq & S&P 500 are all up nearly 1%. Shares of Netflix are in the limelight with a 25% gain.
With inputs from : Business Insider.