European Stocks Are Surging After Dovish Moves From Draghi And China

Mario Draghi pushed European markets out of bed Friday morning with a dovish speech, followed by an unexpected rate cut from the People’s Bank of China.

The news sent European stocks surging up. Here’s the scorecard:

France’s CAC 40 is up 2.63%

Germany’s DAX is up 2.30%

The UK’s FTSE 100 is up 1.23%

Italy’s FTSE MIB is up 2.79%

Spain’s IBEX is up 3.04%

Asian markets closed up: Japan’s Nikkei finished 0.33% higher and Hong Kong’s Hang Seng closed up 0.37%.

US stocks are up too: the Dow is 148 points higher, and the S&P 500 is 4 points up from Thursday’s close.

Other than that, it’s a quiet day for data, with only the Kansas Fed’s manufacturing index coming from the US, out at 4 p.m. GMT.

This piece was updated at 2:39 a.m. GMT.

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