Wednesday, May 27th23.3°C
26427
25218

Stocks open higher after European Central Bank cuts interest rates, pledges more stimulus

U.S. stocks are opening higher after the European Central bank pledged more stimulus to help the region's ailing economy, boosting the outlook for global growth.

The Dow Jones industrial average rose 26 points, or 0.2 per cent, to 17,104 in early trading Thursday. The Standard & Poor's 500 index climbed two points, or 0.1 per cent, to 2,002.

ECB President Mario Draghi said in a press conference that the bank would start purchases of asset-backed securities and covered bonds in October. The bank also cut its benchmark interest rate.

In the U.S., a private survey showed businesses added jobs at a healthy pace in August.

PVH, the owner of Tommy Calvin Klein and Tommy Hilfiger brands, rose $11.25, or 10 per cent, to $128.38 after the company reported earnings that exceeded analysts' expectations.

The Canadian Press


Read more Business News

26407


Recent Trending




Today's Market
S&P TSX15110.47+59.66
S&P CDNX690.62-1.34
DJIA18162.99+121.45
Nasdaq5106.59+73.84
S&P 5002123.48+19.28
CDN Dollar0.80300.00
Gold1187.40-16.90
Oil58.33-0.68
Lumber274.00-0.40
Natural Gas2.81-0.01

 
Okanagan Companies
Pacific Safety0.13-0.01
Knighthawk0.010.00
QHR Technologies Inc1.50-0.01
Cantex0.03-0.01
Anavex Life Sciences0.42-0.01
Metalex Ventures0.08-0.01
Russel Metals25.51+0.30
Copper Mountain Mining1.28+0.00
Colorado Resources0.11+0.01
ReliaBrand Inc0.0139+0.0059
Sunrise Resources Ltd0.04+0.01
Mission Ready Services0.155+0.005
Decisive Dividend Corporation2.10+0.16

 



25985

FEATURED Property
23112442929 McAllister Road
5 bedrooms 2 baths
$299,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Cash stressed seniors

Photo: Thinkstock.comFor many Canadian homeowners, their house represents the biggest portion of their net worth. Now, increasing numbers of seniors are starting to recognize the hidden value of their...


Do or do not

Photo: Thinkstock.com“The optimist sees the rose and not its thorns; the pessimist stares at the thorns, oblivious of the rose.” - Kahlil Gibran Good planning is all about managing chan...


Penetrate the smokescreen

Photo: ContributedHas this ever happened to you? You’re in the middle of your second or third “good discussion” with a prospect. Everything’s going great. The prospect seems en...

_



25991

25482


Member of BC Press Council


26106