European Stocks Continue to Firm On Yellen

By Staff,

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European shares continued its rally from Federal Reserve Chairman nominee Janet Yellen's remarks on Thursday.

Yellen suggested that the Fed would leave monetary policy accommodative for a bit longer to ensure that the U.S. economy is on track.

Around the region, the EU's official statistics agency said consumer prices rose 0.9% in the 12 months to October, a lower annual rate of inflation than the 1.3% recorded in September, and the lowest since October 2009.

Separately, the EU warned that Germany has not taken the necessary steps to structural reform.

Yves Mersch, who sits on the ECB's six-member executive board, also said there are still challenges that need to be addressed before the eurozone crisis is over.

The FTSE-100 was last up 0.41% at 6,693.44, the DAX up 0.21% at 9,168.69 and the CAC-40 up 0.19% at 4,292.23.

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This article appears in: Investing Commodities
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