Milan Stocks Surge After Surprise ECB Rate Cut -- Market Talk
05 September 2014 - 2:41AM
Dow Jones News
1611 GMT FTSE Mib climbs 2.8% to EUR21419 to a two-month high
after the ECB surprised investors with a cut in interest rates.
Bank stock prices take off as message to lend more to the
eurozone's small businesses is clear. Intesa Sanpaolo up 5.6% and
UniCredit rises 5.1%. Mediaset increases 5.6% on possible
cooperation with peers on pay-TV. With the euro reaching a one-year
low against the dollar, companies with ties to the U.S. currency
are hit. Friday focus is U.S. August employment data at 1230 GMT,
as well as conclusion of NATO summit in Wales and any indication of
an easing of tensions in the Ukraine conflict.
(liam.moloney@dowjones.com)
Subscribe to WSJ: http://online.wsj.com?mod=djnwires