Calm returns to global markets as focus turns to ECB ending its stimulus programme
London — A sense of calm returned to global markets on Thursday, as traders took a break from worrying about a global trade war and focused instead on the European Central Bank’s (ECB) plans to end its €2.5-trillion stimulus programme. European, US and Asian share markets all edged up — the first two for a fourth day — after US President Donald Trump suggested he may spare some key trade partners in his push to introduce protectionist tariffs. The euro lingered in the red though, as a bigger-than-expected drop in German industrial orders, then a subdued ECB inflation forecast, added to the weekend’s inconclusive Italian election, reinforcing caution. The central bank did, however, drop an explicit promise on its bond buying, which has been running for three years, and there was some pointed criticism from ECB president Mario Draghi for Trump’s plans for more trade tariffs. "If you put tariffs against [those] who are your allies, one wonders who the enemies are," he said. Wall Street...
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