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- European Stocks. First hour: European stocks trading higher on good IFO data
European Stocks. First hour: European stocks trading higher on good IFO data
European stocks started slightly positive near two-month highs after being boosted on Friday by ECB president Mario Draghi's dovish comments and hints that the ECB is going to fight disinflation. The peoples Bank of China's surprise cut in benchmark interest rates further fuelled bullish sentiment. German IFO Business climate that measures attitudes toward business prospects over the next six months in Germany, Eurozones biggest economy, published at 09:00 GMT was better-than-expected for November reading 104.7 beating forecasts by 1.7. Data on IFO current assessment was better at 110.0 versus its forecasts of 108.2 and IFO Expectations rose to 99.7 with a forecast of 98.5.
The FTSE 100 index is currently trading little changed at +0.01% at 6,751.12 points, Germany's DAX 30 is up +0.78% trading at 9,808.50 points and France's CAC 40 gained +0.70% currently quoted at 4,377.66 points.
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