LONDON - Europe’s traders were sending European Central Bank chief Mario Draghi off in style on Thursday, raising the region’s stocks to their highest in more than a year and nudging the euro towards its best month since January 2018.
The list of landmarks was still impressive. The pan-European Stoxx 600 rose 0.3% to its highest since May 2018. Germany’s DAX wasn’t far behind and the euro was at $1.1140, consolidating its 2.1% October advance. Turkey’s central bank was expected to slash its 16.5% rates by another 100 basis points, after U.S. President Donald Trump lifted sanctions on Turkey following a ceasefire in northern Syria.On Wall Street earlier, the Dow and the Nasdaq added 0.2% each and the S&P 500 gained 0.3%. Tesla shares jumped 21% in after-hours trading after the company reported an unexpected third-quarter profit.
So far, results from about 125 of the S&P 500 companies are out with analysts expecting earnings to have declined 2.9% year-over-year, according to IBES data from Refinitiv.Sterling paused at $1.2914 after rising 0.3% on Wednesday. After more than three years, Britain appears closer than ever to resolving its Brexit conundrum but still has hurdles to clear.
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