Asia stocks surge after ECB interest rate cut

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Source: Marketwatch
© Scanpix/AP
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%.

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Fri, 04 Nov 2011 07:20:39 GMT

US equities rally after ECB minimal bid rate cut

US stocks experienced a sharp growth on Thursday following Greece's abandonment of bailout referendum and surprising ECB interest rate cut. Dow Jones Industrial Average gained 1.8% or 208.43 points, S&P 500 Index rose 1.9% or 23.24 points, while Nasdaq Composite Index climbed 2.2% or 57.99 points. According to Paul Nolte, Dearborn Partners managing director, the cut of ECB repo rate to 1.25% contributed significantly to growth in US

Thu, 03 Nov 2011 17:00:47 GMT

US stocks review their track

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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