Investing.com - European stock markets held gains on Thursday, after the European Central bank announced it was to conduct two longer-term refinancing operations in a response to the region's worsening debt crisis.
During European afternoon trade, the EURO STOXX 50 jumped 0.88%, France’s CAC 40 rallied 1.33%, while Germany’s DAX 30 rose 0.22%.
The announcement came after the ECB left interest rates unchanged at 1.5%. Outgoing ECB President Jean-Claude Trichet said inflation risks remained "to the downside," indicating that the bank may cut rates before the end of the year.
Earlier Thursday, European Commission President Jose Barroso said that the commission was proposing coordinated action to recapitalize banks.
Lenders continued to lead gains, with shares in France's BNP Paribas up 5.50% and Societe Generale rising 2.16%, while Credit Agricole saw shares post a 1.18% increase.
Shares in peripheral lenders were also up, with Italy's Unicredit and Intensa Sanpaolo climbing 1.89% and 1.71%, while Spain's Banco Santander was up 1.45%.
French-Belgian lender Dexia saw shares plummet 14.69%, after saying on Thursday that it had entered exclusive negotiations with a group of international investors to sell its Luxembourg unit, the first step toward dismantling the troubled European financial firm.
In London, the FTSE 100 rose 1.52%, as U.K. lenders extended gains after the Bank of England decided to increase its asset purchase program to shore up the domestic economy.
Shares in Lloyds Banking soared 6.42% and Barclays surged 4.48%, while the Royal Bank of Scotland saw shares advance 4.12%.
Mining giants Rio Tinto and BHP Billiton also extended gains, with shares climbing 5.33% and 3.55% respectively, while copper producers Kazakhmys and Xstrata jumped 5.43% and 4.35%.
Elsewhere, U.S. equity markets pointed to a mixed open after the U.S. Department of Labor said that unemployment claims rose less-than expected last week.
The Dow Jones Industrial Average futures pointed to a fall of 0.28%, S&P 500 futures signaled a drop of 0.31%, while the Nasdaq 100 futures indicated a 0.03% rise.
Also Thursday, official data showed that German factory orders fell unexpectedly in August, down for the second straight month.
During European afternoon trade, the EURO STOXX 50 jumped 0.88%, France’s CAC 40 rallied 1.33%, while Germany’s DAX 30 rose 0.22%.
The announcement came after the ECB left interest rates unchanged at 1.5%. Outgoing ECB President Jean-Claude Trichet said inflation risks remained "to the downside," indicating that the bank may cut rates before the end of the year.
Earlier Thursday, European Commission President Jose Barroso said that the commission was proposing coordinated action to recapitalize banks.
Lenders continued to lead gains, with shares in France's BNP Paribas up 5.50% and Societe Generale rising 2.16%, while Credit Agricole saw shares post a 1.18% increase.
Shares in peripheral lenders were also up, with Italy's Unicredit and Intensa Sanpaolo climbing 1.89% and 1.71%, while Spain's Banco Santander was up 1.45%.
French-Belgian lender Dexia saw shares plummet 14.69%, after saying on Thursday that it had entered exclusive negotiations with a group of international investors to sell its Luxembourg unit, the first step toward dismantling the troubled European financial firm.
In London, the FTSE 100 rose 1.52%, as U.K. lenders extended gains after the Bank of England decided to increase its asset purchase program to shore up the domestic economy.
Shares in Lloyds Banking soared 6.42% and Barclays surged 4.48%, while the Royal Bank of Scotland saw shares advance 4.12%.
Mining giants Rio Tinto and BHP Billiton also extended gains, with shares climbing 5.33% and 3.55% respectively, while copper producers Kazakhmys and Xstrata jumped 5.43% and 4.35%.
Elsewhere, U.S. equity markets pointed to a mixed open after the U.S. Department of Labor said that unemployment claims rose less-than expected last week.
The Dow Jones Industrial Average futures pointed to a fall of 0.28%, S&P 500 futures signaled a drop of 0.31%, while the Nasdaq 100 futures indicated a 0.03% rise.
Also Thursday, official data showed that German factory orders fell unexpectedly in August, down for the second straight month.