Stocks stage tentative rebound after ECB disappointment

“A stream of earnings from the United States has shown people have to pay attention to the corporate cycle as well as the interest rate cycle, and focus is also shifting to the U.S.’s latest GDP numbers this afternoon, which may go some way to influencing what the Federal Reserve decides to do,” said Andrew Milligan, head of global strategy at Aberdeen Standard Investments.

Vodafone jumped 7.6% on plans to move its mobile mast operations in 10 European markets into a new company that it potentially could list. Still, the euro’s overnight index swaps EUROIS are pricing in a rate cut of more than 10 basis points in September, to minus 0.50 percent.

Crash and burn.

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