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European stocks climb before EU summit

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LONDON: Eurozone stock markets rose on Wednesday (Apr 10) ahead of a key EU summit, with the smart money on Britain winning a Brexit delay which ...

LONDON: Eurozone stock markets rose on Wednesday ahead of a key EU summit, with the smart money on Britain winning a Brexit delay which analysts said would be welcomed by equity investors.Advertisement

The euro traded lower against the dollar after Draghi's remarks, with analysts saying his dim view of the eurozone economy weighed on the currency. The currency shrugged off news that the UK economy grew by just 0.2 per cent in February from a month earlier.Analysts dubbed the combination of the EU summit, the ECB decision and the Fed minutes"Super Wednesday", making for"anything but a boring day in the markets", as Oanda analyst Craig Erlam put it.

Without a postponement, Britain is due to crash out of the European Union at midnight on Friday under a"no-deal" Brexit that could trigger economic chaos.

 

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