European equities are expected to open higher after the signals from ECB

23.10.2015 / 08:45

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European equities are expected to open higher Friday after the European Central Bank (ECB) signaled on Thursday its willingness to extend its Quantitative Easing program.Bank kept interest rates at a record low amid deflationary threat.

As we expected the ECB President Mario Draghi said the bank's 1 trillion euro bond-buying program policy would need to be "re-examined" in December. He added that the governing council would be ready to use all its available instruments within its mandate. Draghi's statement led to a sharp drop in the euro on the currency market and optimism on European stock markets.

In other news, Portugal's president put conservative coalition leader Pedro Passos Coelho back as prime minister on Thursday, igniting protests from leftist parties. Europe continues to monitor the refugee crisis without any realistic idea of solving the problem.

Earnings come from Ericsson and Electrolux and flash purchasing manager's index (PMI) surveys for October come from France (10:00), Germany (10:30) and the euro zone (11:00).

G.Hristov / Head of Fundamental Analyzes

Varchev Traders

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European equities are expected to open higher after the signals from ECB

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