Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

European shares break 4-day losing streak on Fed Powell's dovish remarks

Published 11/07/2019, 08:12
Updated 11/07/2019, 08:20
© Reuters.  European shares break 4-day losing streak on Fed Powell's dovish remarks
RKT
-
STOXX
-
INDV
-

(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
July 11 (Reuters) - European shares rose on Thursday,
breaking a four-day losing streak, after U.S. Federal Reserve
Chair Jerome Powell cemented hopes of an interest rate cut this
month, lifting stock markets worldwide.
While strong U.S. jobs data last week had investors trimming
bets of a 50 basis points cut in interest rates by the Fed in
July, Powell's remarks saw interest rate futures pricing in
greater odds of an aggressive rate cut this month. MKTS/GLOB
The pan-European stocks benchmark .STOXX rose 0.2% after
accumulating losses of 1.4% over the last four sessions. The
release of Powell's prepared remarks had lifted stocks briefly
into the black on Wednesday, but they closed lower.
The European Central Bank is scheduled to release at 1130
GMT minutes of its last meeting when chief Mario Draghi took a
sharp dovish turn, pushing stock markets higher.
Among stocks, Britain's Reckitt Benckiser RB.L was among
the biggest positives after it agreed to pay up to $1.4 billion
to resolve all U.S. federal investigations in connection with
the sales and marketing of Suboxone Film by its former
prescription pharmaceuticals business Indivior INDV.L .

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2024 - Fusion Media Limited. All Rights Reserved.