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19.03.2015 16:00

European stock markets First hour: Indices add gains on cautious FED - FTSE100 sets new all-time high

European stocks open higher on Thursday after yesterday's FED statement indicating that interest rates may remain on hold for a longer than anticipated time and will rise at a slower pace. The Federal Reserve, although removing the 'patient' wording from its minutes, lowered forecasts on economic growth and inflation - the strong dollar keeps inflation below the targeted 2% and slows export-growth. FED chair Janet Yellen said that the FED has not yet decided on the timing of a rate hike but it could happen at any FOMC meeting this year.

AT 09:00 the ECB will publish its Economic Bulleting followed by the EU Economic Summit at 10:00 GMT and the Targeted LTRO at 10:15 GMT.

The commodity heavy FTSE 100 index is currently trading +0.36%, with gains in the mining sector, quoted at 6,970.31. The index set intraday a new all-time high at 6,982.79 points. Germany's DAX 30 is trading +0.51% at 11,983.75 points, still below the psychologically important mark of 12,000 points. France's CAC 40 is currently trading at 5,049.65 points, +0.32%.

Market focus

  • Bundesbank: German growth to remain subdued at least in first half of 2019
  • EU will react swiftly if U.S. hits it with car tariffs - European Commission
  • Unemployment in the UK remained at 4%, as expected
  • Bank of Japan Governor Kuroda: BOJ policy does not have currency manipulation as its target
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