Overseas Trading: European Stocks Struggle; All Eyes on Draghi

ECB President Mario Draghi is set to speak shortly, after the ECB decided not to change interest rates

by Alex Eppstein

Published on Apr 21, 2016 at 8:36 AM

Asian stocks largely gained, boosted by an oil-induced rally among U.S. stocks. Leading the way higher was Japan's Nikkei, which soared 2.7% as a weaker yen served as a positive catalyst for automakers and other exporters. Also muscling higher were Hong Kong's Hang Seng and South Korea's Kospi, which added 1.8% and 0.8%, respectively. However, China bucked the regional trend; the Shanghai Composite fell 0.7%, as liquidity concerns continued to weigh.

European markets are struggling, following a lackluster round of earnings. Meanwhile, traders are digesting an unsurprising European Central Bank (ECB) decision to keep interest rates unchanged at zero, while awaiting comments from ECB President Mario Draghi. France's CAC 40 is 0.5% lower, dragged south by disappointing quarterly sales from Pernod Ricard. Meanwhile, London's FTSE 100 and the German DAX have shed a respective 0.5% and 0.4%.

overseas stocks april 21

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