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Draghi's euro vow bolsters European stock markets | |
(6 months later) | |
(Close): Mario Draghi's vow to do "whatever it takes" to save the euro boosted the FTSE 100, which closed 0.26% higher at 6,638.3. | (Close): Mario Draghi's vow to do "whatever it takes" to save the euro boosted the FTSE 100, which closed 0.26% higher at 6,638.3. |
The European Central Bank president reiterated that it was prepared to buy government bonds if inflation in the eurozone fails to rise. | The European Central Bank president reiterated that it was prepared to buy government bonds if inflation in the eurozone fails to rise. |
Arm Holdings held on to its earlier gains to end the day as the biggest blue-chip riser, up 2.4% at 890p. | Arm Holdings held on to its earlier gains to end the day as the biggest blue-chip riser, up 2.4% at 890p. |
The biggest faller was Weir Group, which slid almost 3.8% to £20.47. | The biggest faller was Weir Group, which slid almost 3.8% to £20.47. |
Supermarkets were also lower, with Sainsbury's closing down 1.6% and Tesco shedding 1.2%. | Supermarkets were also lower, with Sainsbury's closing down 1.6% and Tesco shedding 1.2%. |
After the market closed Marks & Spencer said it had appointed Helen Weir as its new chief finance officer. | After the market closed Marks & Spencer said it had appointed Helen Weir as its new chief finance officer. |
She had been doing the same job for the past two years at the John Lewis Partnership after running the retail division of Lloyds Banking Group. | She had been doing the same job for the past two years at the John Lewis Partnership after running the retail division of Lloyds Banking Group. |
Mr Draghi's remarks to the European Parliament also helped Germany's Dax close 0.6% higher, while France's Cac 40 made similar gains to end at 4,226. | Mr Draghi's remarks to the European Parliament also helped Germany's Dax close 0.6% higher, while France's Cac 40 made similar gains to end at 4,226. |
Investors had been nervous after Japan's economy sank back into recession, and UK prime minister David Cameron said there were warning signs that the global economy faced "instability and uncertainty". | Investors had been nervous after Japan's economy sank back into recession, and UK prime minister David Cameron said there were warning signs that the global economy faced "instability and uncertainty". |
The news had earlier sparked a fall in Asian markets, with Japan's Nikkei closing down almost 3% to 16,973.8. | The news had earlier sparked a fall in Asian markets, with Japan's Nikkei closing down almost 3% to 16,973.8. |
It was the biggest one-day drop for the Nikkei since August. | It was the biggest one-day drop for the Nikkei since August. |
On the currency markets, sterling dipped to a fresh 14-month low against the US dollar at to $1.565 and gained 0.4% against the euro to €1.2563. | On the currency markets, sterling dipped to a fresh 14-month low against the US dollar at to $1.565 and gained 0.4% against the euro to €1.2563. |