Thursday, June 10, 2010

Europe close: Bourses pleased by ECB

Date: Thursday 10 Jun 2010

European shares rose strongly as investors reacted warmly to the European Central Bank’s decision to keep interest rates on hold.

President Jean-Claude Trichet's commented afterwards that the European Central Bank will continue to purchase bonds and maintain short-term liquidity for the region's banks. It sent the euro up above $1.20 for the first time in a week.

Banks were among the best performers with Banco Santander, BBV and BNP Paribas are all higher.

Deutsche Bank was knocked after German paper Handelsblatt said Tanus Corp, a US unit of the bank, might need fresh capital and has drawn attention from US regulators

Across the markets, the German Dax rose 71 points to 6,056, while the French CAC added 69 points to 3,516.

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