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Market News


European Markets

Opening calls are indicating a lower open.

 

Asian Markets

Indices in Asia are trading lower.

US Markets

U.S. stocks finished sharply higher Wednesday afternoon, snapping back from two days of steep declines.

Investors read the Federal Reserve’ latest policy statement and remarks by Chairman Ben Bernanke as a commitment to continue to help the economy.

The Dow Jones industrial average surged 178 points, or 1.5%, S&P 500 added 20 points, or 1.6%, and the Nasdaq composite increased 33 points, or 1.3%.

Events today

Away from Cannes, the new boss of the ECB makes his debut in Frankfurt.

Like the G20 meeting, the ECB decision on rates and Mario Draghi’ first press conference as head of the central bank will be dominated by the Greek issue.

Analysts do not expect a cut in rates on Thursday but on Wednesday Ireland’ finance minister said he expects Draghi to cut rates by between 25 and 50 basis points at the December meeting.

Any comments on bond buying by Draghi will be closely watched by the market.

Thursday is also a big day for earnings across Europe with the likes of BNP Paribas, BT and Aviva all due to report.