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European stocks rise as countdown begins for ECB meeting

FXStreet (Mumbai) - The European stocks rallied on Thursday as the investors now look towards the Dec 3rd European Central Bank (ECB) meeting, where Draghi is expected to announce additional stimulus measures.

The pan-European Euro Stoxx 600 index rallied more than 1%. Among the regional indices, Germany’s DAX rallied 1.5%, while France’s CAC advanced 0.7%. London’s FTSE also rallied 1.3%.

The stocks followed DJIA, which ended 247 points higher after minutes from the Fed’s October meeting indicated “most participants” anticipate the conditions for a rate rise “could well be met by the time of the next meeting” in December.

Other positive news came-in from the People’s Bank of China (PBOC) announced a cut in the interest rates for the Standing Lending Facility (SLF). More positive news could come through from the minutes of the last month’s European Central Bank (ECB) meeting due for release later today.

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