European Stocks Jump on Draghi Inflation Pledge, China Rate Cut
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Stocks in Europe climbed to a two-month high as European Central Bank President Mario Draghi reiterated his commitment to raising inflation as fast as possible, and China cut interest rates.
The Stoxx Europe 600 Index added 2.1 percent to 345.24 at the close of trading, snapping a two-day losing streak. The equity benchmark has advanced 2.9 percent this week amid investor speculation of further ECB stimulus. Stocks extended gains today after China cut interest rates, with miners leading.