Draghi’s hints boost bank stocks

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It’s not much, but it will do.

The ECB remained officially committed to its quantitative easing programme after its latest policy meeting, but president Mario Draghi’s hint that the bank has at least considered tightening its forward guidance provided a boost to European bank stocks on Thursday afternoon.

The Euro Stoxx Banks Index, which was up around half a per cent before Mr Draghi’s speech, had jumped to a 2.4 per cent rise for the day by publication time.

The rise helped move France’s Cac 40 index to positive territory for the day, and wiped out the majority of the Dax’s earlier losses.

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