Investing.com - Financial Markets Worldwide
Black Friday is Now! Don’t miss out on up to 60% OFF InvestingProCLAIM SALE

European shares attempt recovery after ECB disappointment

Published 26/07/2019, 08:24
© Reuters. European shares attempt recovery after ECB disappointment
VIV
-
VOD
-
AAL
-
STOXX
-

(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
July 26 (Reuters) - European shares rose slightly on Friday,
a day after they dropped on a less-dovish-than-expected European
Central Bank statement, buoyed by a rally in mobile operator
Vodafone and media firm Vivendi .
ECB President Mario Draghi on Thursday all but pledged to
ease policy further and even hinted at a reinterpretation of the
ECB's inflation target, but this disappointed some investors who
had hoped for an immediate easing of interest rates.
The pan-European stock benchmark index .STOXX rose 0.1% by
0711 GMT.
The ECB disappointment stems from strongly dovish notes
major central banks had struck last month that spurred a rally
in stocks as investors hoped for policy easing as soon as the
next meeting. Focus now shifts to the U.S. Federal Reserve,
which is expected to cut rates by at least a quarter basis point
next week.
Shares of Vivendi VIV.PA rose 4% after stellar first-half
results at its Universal Music Group raised the stakes for the
sale of the French media giant's most-prized asset. Vodafone VOD.L jumped 7.3% on plans to move its mobile
mast operations in 10 European markets into a new company that
it potentially could list. The materials sector fell the most, with Anglo American
AAL.L dropping more than 4% after the mining company's biggest
shareholder billionaire Anil Agarwal said he was divesting the
nearly 20% stake he had been holding since 2017.

Latest comments

Install Our App
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.