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European stocks increased due to the stronger-than-expected earnings results from companies across Europe. Investors are awaiting the ECB interest rate decision later in the day. Analysts expect interest rates will remain at a record low level at 0.25%. The major problem of the Eurozone is the low inflation. The ECB President Mario Draghi has many times stated that the central bank will take appropriate measures to tackle low inflation. ECB’s goal is a 2% inflation.
Market participants hope for easing tensions in Ukraine. Russian President Vladimir Putin said yesterday that Russia is ready to discuss a way out of the Ukrainian crisis with the head of the Organization for Security and Co-operation in Europe.
Barclays shares climbed 6.2%. The company will cut 7,000 jobs at the investment bank to reduce its dependence on the unit. Barclays reported it is planning to cut 14,000 jobs worldwide this year, up from the 12,000 cuts announced in February.
Metro AG shares climbed 5.1% after announcing the better-than-expected earnings.
ProSiebenSat.1, German media group, increased 4.8% after the release of a 9.5 percent increase in first-quarter core earnings.
Name Price Change Change %
FTSE 100 6,828.65 +32.31 +0.50%
DAX 9,566.3 +45.00 +0.50%
CAC 40 4,472.21 +25.77 +0.60%
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