European Shares Rise as ECB's Coeure Signals Start of Stimulus Program
European shares rose for the first day in nine on Friday on expectations the European Central Bank will soon begin its bond-buying plan to stimulate the region's flagging economy. The euro was unchanged and bonds were mixed.
The Stoxx Europe 600 Index was recently up 1.83% after ECB Executive Board member Benoit Coeure said the bank will start purchasing assets "within days." European car makers led by France's PSA Peugeot Citroen (UG.PA) rose after data showed that European car sales accelerated last month after crashing in August to a 2014 low.
Peugeot surged 6.76% in Paris trading to 9.26 euros a share, in a 52-week range of 8.21 - 14.57. Germany's Volkswagen AG (VOW.DE) was up more than 3% in Frankfurt and Daimler AG (DAI.DE) rose 2.2%.
Rolls-Royce Holdings Plc (RR.L) crashed 11.65% to its lowest in about two years in London trading after cutting its full-year sales outlook due to the slowing economy and Russian sanctions.
The euro was virtually unchanged at 1.2810 against the U.S. dollar.
The yields on German and French 10-year debt rose 7 basis points each to 0.86% and 1.30%, respectively. Yields fell, however, 4 basis points on Italian 10-year bonds to 2.54%.
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