Overseas Trading: European Markets Rise with All Eyes on Draghi

Stocks in Europe are moving sharply higher, after the ECB decided not to modify interest rates

Sep 3, 2015 at 8:19 AM

Trading in Asia was tame today, relative to the recent volatility witnessed throughout the region, thanks to the shuttering of markets in China and Hong Kong for Victory Day. Japan's Nikkei added 0.5% to snap a four-session losing streak, with an assist from Wall Street's big win, a weaker yen, and upbeat data out of the services sector. Also, South Korea's Kospi inched 0.02% higher, with earlier gains vanishing on disappointing quarterly growth data.

European bourses are rallying at midday, as the European Central Bank (ECB) left interest rates as is -- though traders are still eagerly awaiting a press conference with ECB President Mario Draghi. Also providing a lift is Markit's better-than-expected eurozone purchasing managers index (PMI). At last check, London's FTSE 100 has soared 1.3%, France's CAC 40 is up 1.2%, and Germany's DAX has jumped 1.6%.

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