European Shares Stabilized, DAX Gained 0.92%
The US stock markets rose yesterday, despite a decline in retail sales, as well as higher inflation. The main indices of European stock exchanges also rose today, amid high incomes of companies of large European corporations. The shares of Commerzbank grew by 2.39%, and Deutsche Bank - by 2.04%. The German DAX stock index showed growth of 0.92% and rose to 12.453.00. The global stock markets experienced a sharp correction last week, and the DAX fell by 5.9%.
The Eurozone trade surplus increased in December compared to the previous month against the background of a higher level of exports. Eurostat data showed that the trade surplus rose to EUR 23.8 billion, taking into account seasonal fluctuations in December from EUR 22 billion in the previous month. The expected level was 22.3 billion euros.
ECB President Mario Draghi said that he is more confident in the growth of Eurozone inflation to the Bank's goal of 2% due to improved economic growth. The ECB cut its large-scale incentive program from 60 to 30 billion a month in January. Markets are waiting for hints whether the ECB will normalize policy and activate incentives in September.