Financial markets survey 08.07.2013

According to the results of the first trading week of July, indices of leading trading platforms registered growth. During the first half of the week, markets remained mainly flat, while growth was registered over the last two trading days of the previous week.

An important impetus to markets was at last given by news from Europe. On Thursday, 4 July, President of the European Central Bank (ECB) Mario Draghi stated during a press-conference on the results of the ECB meeting that took place on Thursday that interest rates of the European Central Bank would remain “at present or lower levels for an extended period of time.” The ECB President promised again that the ECB’s monetary policy stance would remain accommodative for as long as needed to recover the economy, in particular to promote stable money market conditions. He mentioned that the ECB’s policy should support domestic demand in the euro-area. Such a statement was very opportune, since markets continue to stay in a constant tension regarding the approaching dates for  сurtailing incentive programs by the US Government.

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