Business

Draghi's euro vow bolsters European stock markets



Search company or market
Search company or market:
Refresh this page Launch Marketwatch ticker
London | Wall Street | Asia

FTSE 100 Index

Last Updated at 04 Sep 2017, 11:23 GMT *Chart shows local time FTSE 100 intraday chart
value change %
7419.43 -
-19.07
-
-0.26

Top winner and loser

Fresnillo

1654.00 p +
+37.00
+
+2.29

Royal Mail

386.40 p -
-6.00
-
-1.53
value change %

FTSE 250 Index

19705.75 -
-80.43
-
-0.41

FTSE 350 Index

4117.27 -
-11.64
-
-0.28

FTSE All Share Index

4064.32 -
-11.43
-
-0.28

FTSE Techmark Index

4419.85 -
-30.32
-
-0.68

(Close): Mario Draghi's vow to do "whatever it takes" to save the euro boosted the FTSE 100, which closed 0.26% higher at 6,638.3.

The European Central Bank president reiterated that it was prepared to buy government bonds if inflation in the eurozone fails to rise.

Arm Holdings held on to its earlier gains to end the day as the biggest blue-chip riser, up 2.4% at 890p.

The biggest faller was Weir Group, which slid almost 3.8% to £20.47.

Supermarkets were also lower, with Sainsbury's closing down 1.6% and Tesco shedding 1.2%.

After the market closed Marks & Spencer said it had appointed Helen Weir as its new chief finance officer.

She had been doing the same job for the past two years at the John Lewis Partnership after running the retail division of Lloyds Banking Group.

Mr Draghi's remarks to the European Parliament also helped Germany's Dax close 0.6% higher, while France's Cac 40 made similar gains to end at 4,226.

Investors had been nervous after Japan's economy sank back into recession, and UK prime minister David Cameron said there were warning signs that the global economy faced "instability and uncertainty".

The news had earlier sparked a fall in Asian markets, with Japan's Nikkei closing down almost 3% to 16,973.8.

It was the biggest one-day drop for the Nikkei since August.

On the currency markets, sterling dipped to a fresh 14-month low against the US dollar at to $1.565 and gained 0.4% against the euro to €1.2563.