Business Maverick: Draghi’s Divided ECB Leaves Markets Hoping for Government Action

successor Christine Lagarde will inherit the presidency on Nov. 1 unsure how much more the institution can do to revive growth and inflation. Not only did Draghi’s plan to resume bond purchases and cut interest rates further below zero face unprecedented opposition in the Governing Council, but investors and economists aren’t sure it’ll work.

Yet after initially rallying on the news, European government bonds gave up their gains. The euro, which weakened on the headlines, reversed its decline, and stocks swung between gains and losses. The task of convincing skeptical colleagues has become harder. Thursday’s fractious meeting saw an unprecedented revolt in which Bank of France Governor Francois Villeroy de Galhau joined more traditional hawks including his Dutch colleague Klaas Knot and Bundesbank President Jens Weidmann to oppose QE.

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BUSINESS MAVERICK: Business confidence is in (extremely) short supplyMisery, it is often said, is a communicable disease. And so it is turning out for business confidence. Depression is feeding on itself, and that showed up on Wednesday 11 September in not one but two business confidence indices, which show pessimism is now at levels not seen in decades.
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Rand firms on ECB decision, trade hopes, stocks gainAt 1530 GMT, the rand was 0.55% firmer at 14.5900 per dollar.
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MARKET WRAP: JSE boosted after ECB unleashes stimulusMining production increased by 2.4% year-on-year in July, from a contraction of 4.2% in June
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Business Maverick: Unsolicited $36.6 Billion LSE Bid Kicked Off by Surprise VisitLondon Stock Exchange Group Plc Chief Executive Officer David Schwimmer had a visit on Monday from an unexpected guest: Hong Kong Exchanges & Clearing Ltd. CEO Charles Li.
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Business Maverick: Thursday, September 12: Five Things You Need to Know to Start Your DayA multi-billion dollar bid to create a global trading power, a Hong Kong activist abroad and the prospect of the U.S. easing sanctions on Iran. Here are some of the things people in markets are talking about today.
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Business confidence hits lowest since 1980sRMB and BER surveys show that more and more business people are simply giving up hope
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