Stocks in Europe started on a positive note as the market await ECB’s verdict on rate hikes

Euro currency

Bourses in Europe started Thursday’s session marginally higher as it tracked gains attained overnight from the stateside. This is after leaders from the congress agreed to extend the borrowing of Federal government until December, which came in as a surprise.

On the previous day, U.S. President Donald Trump forged an unexpected agreement with congressional Democrats to place the relief money allotted for hurricane victims to a three-month extension of both the debt limit and the funding of government.

After the released news, stocks in the United States edged higher when the agreement seemed to remove the concerns everyone of a possible government shutdown.

Looking on indices, European stocks benchmark Stoxx 600 inched up more than 0.2 percent on Thursday’s opening bell. Most of its sectors and bourses are on the positive note.

On the nation’s currency, the euro continues to extend its gains against its peers following the policy decision of the European Central Bank (ECB) happening on the same day. The common currency has been one of the best performers among major currencies as it rose as high as 13 percent all throughout this year.

Several investors’ looks like they believe ECB President Mario Draghi will hold off his plans on the central bank’s policy until October to release any announcements, while he is currently expected to lay the groundwork anytime this day.

In other news related to Europe, President of France Emmanuel Macron is scheduled to create the case for a euro zone overhaul on the same day. There are possibilities that he will highlight financial solidarity need.


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