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European indices continue to rise after the European Central Bank (ECB) President Mario Draghi said at the press conference yesterday that the central bank will launch a large scale quantitative easing program of 60 billion euro a month starting from March 2015 until September 2016 - a stimulus program well above expectations. The central bank kept its interest rate unchanged at 0.05%. Cyclical stocks were among the best performers.
PMI data for France, Germany and the Eurozone were mixed with Germany's Economy, the largest in the Eurozone, picking up momentum. Eurozone's Manufacturing PMI was in line with expectations at 51.0 in January compared to 50.6 in December. The Services PMI beat estimates with a reading of 52.3 compared to economist's forecasts of 52.1 adding 0.7 points.
The FTSE 100 index is currently trading +0.53% quoted at 6,832.90 points. Germany's DAX 30 added +1.40% trading at 10,582.23 at new all-time highs. France's CAC 40 added +1.33%, currently trading at 4,613.41 points.
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