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ECB's Draghi pulls European stocks back into black

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European stock markets recovered from early falls on Tuesday after European Cent...

- European stock markets recovered from early falls on Tuesday after European Central Bank chief Mario Draghi promised more monetary stimulus if the economy does not improve, offsetting another warning on slowing sales from the chip sector.

The pan-European STOXX 600 index was 0.1% higher by 0817 GMT, having fallen around a third of a percentage point at opening. The interest rate sensitive banking sector tumbled 0.6%. The profit warning came hot on the heels of U.S. chipmaker Broadcom’s shock statement last Thursday that trade issues would knock $2 billion off 2019 sales and Frankfurt’s trade sensitive DAX remained deep in negative territory, down 0.7%.

 

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