US stocks review their track

Source: Marketwatch
© Scanpix/Reuters

US stocks returned back to an upward trend after investors gained clarity regarding ECB interest rate cut and Greece's referendum. Dow Jones Industrial Average gained 106.56 points, S&P 500 Index climbed 8.69 points while Nasdaq Composite jumped 19.86 points. Major retrieval came from announcement that Greek prime minister abandoned the plans for referendum on EU bailout plan.

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Fri, 04 Nov 2011 07:19:42 GMT

Asia stocks surge after ECB interest rate cut

Asian equities advanced sharply after an unexpected interest rate reduction by the European Central Bank.  Stock rally also was fueled by Greece's refusal of to make country's bailout referendum. Hong Kong's Hang Seng Index gained 3.3%, whereas Shanghai Composite jumped 0.8%. Japan's Nikkei Stock Average increased by 1.4%, while South Korea's Kospi climbed 2.9% and Australia's S&P/ASX 200 index add 2.6%.

Thu, 03 Nov 2011 17:00:29 GMT

ECB lowers interest rates

European Central Bank (ECB) has unpredictably lowered the interest rate from 1.5% to 1.25%. According to ECB president Mario Draghi, several predictions regarding economic growth in 2012 have been revised downwards and therefore initiated interest rate cut.  Draghi characterized eurozone as a highly uncertain economic environment facing many challenges that can hinder economic growth. 

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