European Stocks. First hour: Stocks add gains on Greek debt deal – DAX at new all-time high
European stocks added gains in early trading on Friday's deal between Greece and the European Union. Eurozone's finance ministers agreed on extending Greece's international bailout under the condition that Greece has to submit a list of policy measures four the four months to come on Monday. The measures planned will have to be approved by the E.U.
Today data on Germany's business climate came in at 10:00 GMT rising to a 7-month high easing concerns over the health of Eurozone's biggest economy. The IFO - Business Climate for February rose from 106.7 in the previous month to 106.8 points, below expectations of an increase to 107.4. The IFO-Expectations came I at 102.5 from previous 102 points. Analysts expected an increase to 103.0. The IFO Current Assessment came in at 111.3, declining from previous 111.7 points. Analyst expected a reading of 112.7 points.
The FTSE 100 index is currently trading -0.10% quoted at 6,908.63 points close to its all-time high at 6950.99. Markets await CBI Retail sales Volume Balance scheduled for 11:00 GMT. Germany's DAX 30 rose +0.77% trading at a new all-time high at 11,135.85. France's CAC 40 added +0.67%, currently trading at 4,863.25 points.
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- BOJ keeps policy steady, signals chance of easing in October
- UK retail sales fell slightly in August
- Fed lowers interest rates by 25 basis points, as expected
- SNB leaves policy rate unchanged at -0.75%