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Stock indices closed higher, supported by comments by the European Central Bank (ECB) President Mario Draghi and the People's Bank of China's interest rate cut.
The European Central Bank (ECB) President Mario Draghi reiterated that the ECB is prepared to add further stimulus measures if needed. Investors speculate that the central bank is moving closer to launch the quantitative easing programme.
Draghi also said that inflation expectations were declining.
The People's Bank of China lowered unexpectedly its interest rate on Friday. China's central bank cut its one year deposit rate to 2.75% from 3.0%. That was the first cut since 2012. It is a try to revive the economy.
The one-year lending rate will also be lowered from 6% to 5.6%.
The changes come into effect on Saturday.
Indexes on the close:
Name Price Change Change %
FTSE 100 6,750.76 +71.86 +1.08%
DAX 9,732.55 +248.58 +2.62%
CAC 40 4,347.23 +113.02 +2.67%
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