European stock indexes rebound at the start of trading on Friday, on track for the fourth straight week of gains, following a new stimulus package and easing measures by the European Central Bank.
As of 08:30 GMT, the Euro STOXX 600 rose 0.05 percent to 390.66, France CAC 40 was 0.24 percent up to 5,656.42.
In Germany, DAX ascended 0.24 percent to 12,440.60 points, led by Deutsche Bank AG shares which soared 1.5 percent after becoming the first financial services company to resolve claims that conspired to rig the bond prices of Fannie Mae and Freddie Mac.
Britain’s FTSE 100, however, slipped 0.21 percent to 7,325.02.
Press reports revealed that the Board of Directors of the London Stock Exchange will meet in the coming days to decide on the Hong Kong Stock Exchange's offer of $36.6 billion.
The rally was by financial companies’ shares, more specifically banks, as the ECB decided on Thursday to cut interest rates on deposit facilities by 10 basis points to -0.50 percent.
ECB President Mario Draghi pledged an unlimited stimulus to revive the euro area’s faltering economy, tying the hands of his successor for years to come as he cut interest rates deep into the negative zone.
He also decided to re-establish the asset purchase program from Next November, with a monthly purchase of 20 billion Euros.
U.S President Donald Trump said yesterday that he did not rule out an interim trade agreement with China, after the two countries showed signs of a thaw in their trade dispute, which led to a rise in stocks associated with commodities.
The euro also extended its gains versus the green currency to $1.1095 after reporting a peak at $1.1109, the highest since August 27, despite backlash among ECB regarding the new stimulus package.
Eurostat data released on Friday showed that euro area seasonally
adjusted trade surplus widened to 19.0 billion euros in July, as exports surged
0.6 percent while imports stabilized.