Business World

Monday 18 March 2019

Eurozone shares hit five-month high after ECB move

The sector here ended the year on a high, with December recording faster increases in both activity and new business, according to the latest Purchasing Managers' Index (PMI)
The sector here ended the year on a high, with December recording faster increases in both activity and new business, according to the latest Purchasing Managers' Index (PMI)

EUROZONE shares hit A five-month high today as investors welcomed plans by the European Central Bank to purchase sovereign bonds on the secondary market.

The European Central Bank agreed to launch a new and potentially unlimited bond-buying programme to lower struggling euro zone countries' borrowing costs and draw a line under the debt crisis, ECB President Mario Draghi said.

By 1339 GMT, the euro zone blue-chip Euro STOXX 50 index was up 2.3pc to 2,497.10 points after rising as high as 2,501.49, a level not seen since early April.

The pan-European FTSEurofirst 300 index rose 1.6 percent to 1,096.36 points.

Reuters

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