European Central Bank correspondent, Frankfurt
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Dec 19, 2014

European stocks set for biggest weekly gain of 2014

LONDON (Reuters) – World markets are ending their last full week of 2014 on a high, as Wall Street made its biggest two-day advance since late 2011 and European shares headed for their strongest week of the year.

The gains came amid relief that the Federal Reserve appears in no rush to withdraw stimulus from the U.S. economy and as investors began to see the advantages of lower oil and fuel costs that should ultimately help global growth.

Dec 18, 2014

Franc falls as Swiss go sub-zero; stocks jump after Fed

LONDON (Reuters) – The Swiss franc tumbled on Thursday as its central bank slapped a charge on deposits, wary of a flood of money exiting Russia and the likely pressure from the euro zone if the ECB starts full-scale money printing early next year.

European shares opened sharply higher after an upbeat assessment of the U.S. economy and a promise to be patient in raising rates by the Federal Reserve had seen U.S. stocks enjoy their strongest session of the year so far.

Dec 11, 2014

International lenders will ‘step up’ if Ukraine reforms: EBRD official

LONDON (Reuters) – International lenders will help Ukraine ride out its economic turmoil provided that the government pushes through reforms and tackles corruption, a senior official of the European Bank for Reconstruction and Development said on Thursday.

“I think there is a consensus among all these parties (international lenders) that they will step up to the plate, on the condition of course that the Ukrainian government is performing,” Sevki Acuner, the EBRD’s country head for Ukraine, told Reuters.

Dec 11, 2014

Global shares, oil steady ahead of crunch ECB loan offer

LONDON (Reuters) – World stocks and oil prices steadied on Thursday as investors waited to see how much help the ECB’s latest funding flood could provide the euro zone and if an expected sharp hike in Russian interest rates could stabilise the rouble.

European shares nudged higher in opening deals and the dollar also halted its abrupt slide of the last few days as investors caught their breath after some sell-offs exacerbated by the year-end drop in trading volumes.

Dec 11, 2014

Shares, oil steady ahead of crunch ECB loan offer

LONDON (Reuters) – World stocks and oil prices steadied on Thursday as investors waited to see how much help the ECB’s latest funding flood could provide the euro zone and if an expected sharp hike in Russian interest rates could stabilize the rouble.

European shares .FTSE3 nudged higher in opening deals and the dollar also halted its abrupt slide of the last few days as investors caught their breath after some sell-offs exacerbated by the year-end drop in trading volumes.

Dec 9, 2014

Naftogaz ‘needs to be privatised’ – Ukrainian presidential aide

LONDON, Dec 9 (Reuters) – A representative of Ukrainian
President Petro Poroshenko called for state energy company
Naftogaz to be privatised on Tuesday, and for commercial gas
pricing to replace costly public subsidies.

Naftogaz is a significant burden on Ukraine’s finances – the
finance ministry has had to borrow $6.4 billion in local bonds
to recapitalise the company this year and help it pay off debts
to Russia’s Gazprom.

Dec 5, 2014

Europe shakes off doubts before U.S. jobs data

LONDON (Reuters) – Worries over spluttering growth and a downturn in commodity markets put global stock markets on course for their first weekly decline in a month on Friday, although European shares reclaimed some of the ground they had lost on Thursday.

After another frenetic week for financial markets, investors were trying to catch their breath before U.S. jobs data at 8:30 a.m. ET. Economists polled by Reuters expected it to show 230,000 new jobs were added last month and the unemployment rate was unchanged at 5.8 percent. ECONG7

Dec 4, 2014

Euro spikes, global shares sag as ECB’s Draghi disappoints markets

LONDON (Reuters) – The euro and bond yields in the currency bloc spiked and shares stumbled on Thursday after the European Central Bank stuck to its line that it will judge early in 2015 whether more action is needed to revive the euro zone economy.

Markets had been hoping for firmer details on if and when the central bank will take the radical step of printing money to buy government bonds, that countries like Germany have been resisting.

Dec 4, 2014

Global shares lifted by ECB, Chinese and Japanese stimulus hopes

LONDON (Reuters) – Bets that European Central Bank chief Mario Draghi will open the door wider to U.S.-style money printing pinned the euro at a two-year low and lifted world shares on Thursday, as China and Japan also geared up for more stimulus.

New forecasts will spell out the euro zone’s deepening economic malaise but Draghi is unlikely to announce any radical move to shore up growth and inflation, such as printing money to buy government bonds. The ECB could extend its current debt purchase schemes to encompass corporate bonds.

Dec 4, 2014

Shares lifted by ECB, Chinese and Japanese stimulus hopes

LONDON (Reuters) – Bets that European Central Bank chief Mario Draghi will open the door wider to U.S.-style money printing pinned the euro at a two-year low and lifted world shares on Thursday, as China and Japan also geared up for more stimulus.

New forecasts will spell out the euro zone’s deepening economic malaise but Draghi is unlikely to announce any radical move to shore up growth and inflation, such as printing money to buy government bonds. The ECB could extend its current debt purchase schemes to encompass corporate bonds.