6/18, 10:43 AM (Source: TeleTrader)
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Stocks in Europe rebound as Draghi hints at rate cuts

Equity traders cheered on Tuesday and stock indexes swung from losses to post substantial gains as European Central Bank President Mario Draghi took a major dovish shift and suggested interest rates may need to be lowered deeper from the already unseen territory and that policymakers should implement easing measures again. However, his comments included a pretty grim outlook as he pointed to low inflation, geopolitical instability, protectionism and the fragility in the emerging markets.

The euro weakened a little while a broad range of assets including safe havens like precious metals and sovereign bonds surged.

The FTSE 100 was 0.65% higher in London at 10:40 am CET. Antofagasta was the best stock, adding 2.77%. The German DAX jumped 0.72% led by Wirecard's 2.18% rally. The CAC 40 climbed 1.06% as Accor jumped 2.54% to the top of the chart. Gold added 0.5% to trade at $1,346.34 per ounce. The euro slipped 0.2% to $1.11954 and 0.13% to £0.89388.

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