European indices rise on possible delay of rate hike in U.S.

Wednesday, 30. March 2016 09:35

Stocks on main bourses in Europe jumped in early trade on Wednesday, led by industrial, financial and commodity sectors, after Asian markets closed with solid gains. Federal Reserve chairwoman Janet Yellen yesterday said policymakers need to be cautious, which was interpreted as a change of course from several earlier signals from other central bankers in the United States that economic situation allows for an increase in the benchmark interest rate in April. The euro advanced against the dollar, adding to yesterday's sharp gains as the greenback lost ground with Fed chief's remarks.

The FTSE 100 rose 1.31% at 9:15 a.m. CET, lifted by a rally in financials and the mining sector. Anglo American climbed 6.7%, Standard Chartered added 6.3%, while Rio Tinto, Glencore and BHP Billiton were up 5%. Aberdeen Asset Management traded at 5.1% in positive territory. The DAX added 1.25% at 9:32 a.m. CET in Frankfurt, topping the 10,000 points mark. ThyssenKrupp led the gains with 4.05%, followed by RWE, up 2.8%, and E.ON, which rose 2.5%. At the same time the CAC 40 index surged 1.32%, with ArcelorMittal jumping 3.2%, followed by LafargeHolcim, up 2.9%, and Technip, 2.5% in the green.

The Swiss SMI index moved 0.7% higher at 9:34 a.m. CET, with the performance chart headed by Lafarge. The cement maker jumped 3.8%, followed by Richemont's 3.3% advance. Earlier today, KOF Economic Barometer showed ongoing positive development of the domestic economy, as the gauge reached 102.5 points, just 0.1 points down from last month's reading and above the long-term average of 100.

The euro jumped 0.29% against the dollar and retreated 0.16% versus the yen at 9:35 a.m. CET.

Related Links: 
Author:
Breaking the News / IT