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16.03.2015 16:00

European stock markets First hour: Indices continue rally on QE

European stocks open higher on Monday despite Friday's losses on Wall Street with the German DAX and the Fremch CAC40 extending its all-time highs. The weaker euro, slightly rebounding from new 12-year lows set on Friday, is supporting export-heavy sectors. Worries over Greece continue to weigh but equities remain supported by the ECB's quantitative easing program started on Monday last week. The ECB is buying bonds worth 60 billion euros a month. Today's speech of ECB President Mario Draghi scheduled for 18:45 will be in the focus.

The commodity heavy FTSE 100 index is currently trading +0.33% quoted at 6,763.02 as mining stocks add gains. Germany's DAX 30 gained +0.74% trading at 11,989.38 points, close to the next psychologically important mark 0f 12,000 points. France's CAC 40 is currently trading at 5,033.44 points, +0.46%.

Market focus

  • ECB could introduce new policy tools if needed - ECB's Vasle
  • German economy ministry says does not expect bigger economic downturn
  • Current ECB policy not there for decades - ECB's Holzmann
  • Eurozone trade surplus unexpectedly widened in July
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