European shares rose more than half a percent on Thursday, bolstered by expectat...
- European shares rose more than half a percent on Thursday, bolstered by expectations of stimulus from the European Central Bank and a rise for Fiat-Chrysler shares after the shock collapse of its merger with Renault-Nissan.
Gains, however, in defensive plays - including a more than 1% rise for utilities sector - underlined the fear of a slide into recession that lie behind the expectations of central bank action. “Markets also want to know whether the ECB will tier the deposit rate to reduce the impact of negative rates on bank earnings. I would expect they will keep that option open but probably won’t announce tiering today.”
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