Investing.com - Financial Markets Worldwide
⭐ Start off 2025 with a powerful boost to your portfolio: January’s freshest AI-picked stocksUnlock stocks

European shares rise on hopes of ECB action

Published 06/06/2019, 08:34
Updated 06/06/2019, 08:40
European shares rise on hopes of ECB action
IT40
-
STLAM
-
CAGR
-
RENA
-
STOXX
-
SX7P
-
SXAP
-

(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
June 6 (Reuters) - European shares rose on Thursday, as
expectations the European Central Bank will provide more
stimulus for an ailing euro zone economy countered
disappointment over the collapse of Renault-Nissan's merger with
Fiat-Chrysler.
The pan-European STOXX 600 index .STOXX was up 0.3% by
0717 GMT, with the auto sector .SXAP , down 0.48%, preventing
stronger gains.
Shares of Fiat Chrysler Automobiles MV FCHA.MI slipped
1.6%, weighing on Milan's bluechip index .FTMIB , after the
Italian carmaker abandoned its $35 billion offer for Renault SA
RENA.PA . Renault's shares slumped about 8%. Fearful of a global recession, markets have been in a state
of flux this week, with worries over Washington's escalating
trade tensions with Beijing and Mexico giving way to hopes that
major central banks would provide fresh stimulus in response.
The ECB, which announces its interest rate decision at 1130
GMT, is expected to seek to give the economy a boost and may
even set the stage for more action later this year as the trade
tensions unravel the benefits of years of ECB
stimulus. In a well-flagged move, ECB President Mario Draghi will
likely offer to pay banks if they borrow cash from the central
bank and pass it on to households and firms. Draghi's news
conference is at 1230 GMT.
Interest-rate sensitive banks .SX7P were marginally lower
with French bank Credit Agricole CAGR.PA down 1% after
unveiling a new set of higher profit targets for 2022 while
saying it expects a lower return on tangible equity.

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
© 2007-2025 - Fusion Media Limited. All Rights Reserved.