The leading German index is on a downward trend this year – despite the recent recovery.
(Photo: Bloomberg Creative/Getty Images [M])
Frankfurt The European stock markets appear to be only moderately impressed by the largest monetary policy move by the European Central Bank (ECB). As on the previous day, the leading European indices were initially weaker in early trading on Friday, but later turned slightly positive.
The German leading index Dax is 0.3 percent higher at 13,287 points in the morning. The euro zone leading index Euro Stoxx 50 is also slightly higher at 3604 points.
Shortly before the decision was made, investors and traders had already expected a larger interest rate step in view of the extremely high inflation in Europe of 8.6 percent, as strategists confirm. According to Ulrich Stephan, chief investment strategist for private and business customers at Deutsche Bank, the central bank is thus sending a signal that it is focusing on combating high inflation rates.
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