Overseas Trading: Europe Stocks Pop as ECB Cuts Rates, Expands Stimulus

Stocks in Europe are soaring after the European Central Bank (ECB) cut interest rates and expanded its stimulus policy

Josh Selway

Mar 10, 2016 at 8:39 AM

Asian stocks traded mixed today, with Japan's Nikkei leading the gainers as it snapped a three-day losing streak. The index added 1.3% as the yen cooled, providing relief to prominent exporters that have struggled amid the currency's recent strength. South Korea's Kospi also closed higher, picking up 0.8% after the country's central bank kept interest rates unchanged.

The Shanghai Composite, however, suffered a 2% loss, after consumer inflation data showed food prices in China skyrocketing last month. Hong Kong's Hang Seng also closed in the red with a 0.06% drop.

Elsewhere, European stocks are surging at midday on the heels of the latest European Central Bank (ECB) policy decision. Specifically, the ECB will expand its bond purchasing program by 20 billion euros per month, and cut both its benchmark lending and bank deposit rates. The euro has tumbled as a result. France's CAC 40 was last seen 2.8% higher, Germany's DAX was up 2.4%, and London's FTSE 100 was 0.8% higher.

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