Investing.com - European stocks closed higher Thursday, after Greek political leaders reached a consensus on austerity measures and the European Central Bank kept its benchmark interest rate at record lows.
After the close of European trade, the EURO STOXX 50 gained 0.37%, France's CAC 40 climbed 0.43%, while Germany's DAX added 0.59%. Meanwhile, in the U.K. the FTSE 100 moved higher by 0.33%.
Greek officials have reached an agreement on austerity measures needed to obtain a EUR130 billion bailout package.
However, Greece, the European Commission, the European Central Bank and the International Monetary Fund are meeting in Brussels today to determine if Greece has met its obligations to qualify for its second bailout package.
The European Central Bank decided to keep interest rates at the record low 1%. President Mario Draghi stated that surveys confirm tentative signs of economic stabilization in the euro zone.
Meanwhile, the Bank of England decided to stimulate the economy with another GBP50 billion to insure the economic recovery continues.
England’s Monetary Policy Committee increased the target for bond purchases to GBP325 billion, over a quarter of current outstanding gilts.
The United States saw a surprising decline in the number of first time unemployment claims last week. This solidifies hopes that the economic recovery is continuing in the world’s largest economy.
Automaker Daimler soared 4.4% after reporting a 39% fourth quarter profit increase due to its newly redesigned M-Class sport utility vehicle.
Clothier, Hugo Boss advanced 0.9% on improved earnings.
KBC Groep climbed 7.5% after the bank stated it plans on making further payments to pay back state aid this year and it’s making progress with the planned sale of Kredyt Bank.
In bearish news, Nobel Biocare Holding plunged 16% after missing analysts’ estimates for fourth quarter profit numbers.
.In the U.S., stocks were mixed with the Dow up 0.01%, the S&P 500 fell 0.08% and the Nasdaq gained 0.09%.
Investors are awaiting French industrial production, Switzerland’s consumer price inflation, U.K’s producer price inflation, and in the U.S., the trade balance and consumer sentiment on Friday.
After the close of European trade, the EURO STOXX 50 gained 0.37%, France's CAC 40 climbed 0.43%, while Germany's DAX added 0.59%. Meanwhile, in the U.K. the FTSE 100 moved higher by 0.33%.
Greek officials have reached an agreement on austerity measures needed to obtain a EUR130 billion bailout package.
However, Greece, the European Commission, the European Central Bank and the International Monetary Fund are meeting in Brussels today to determine if Greece has met its obligations to qualify for its second bailout package.
The European Central Bank decided to keep interest rates at the record low 1%. President Mario Draghi stated that surveys confirm tentative signs of economic stabilization in the euro zone.
Meanwhile, the Bank of England decided to stimulate the economy with another GBP50 billion to insure the economic recovery continues.
England’s Monetary Policy Committee increased the target for bond purchases to GBP325 billion, over a quarter of current outstanding gilts.
The United States saw a surprising decline in the number of first time unemployment claims last week. This solidifies hopes that the economic recovery is continuing in the world’s largest economy.
Automaker Daimler soared 4.4% after reporting a 39% fourth quarter profit increase due to its newly redesigned M-Class sport utility vehicle.
Clothier, Hugo Boss advanced 0.9% on improved earnings.
KBC Groep climbed 7.5% after the bank stated it plans on making further payments to pay back state aid this year and it’s making progress with the planned sale of Kredyt Bank.
In bearish news, Nobel Biocare Holding plunged 16% after missing analysts’ estimates for fourth quarter profit numbers.
.In the U.S., stocks were mixed with the Dow up 0.01%, the S&P 500 fell 0.08% and the Nasdaq gained 0.09%.
Investors are awaiting French industrial production, Switzerland’s consumer price inflation, U.K’s producer price inflation, and in the U.S., the trade balance and consumer sentiment on Friday.