A United Launch Alliance Atlas V rocket carrying a U.S. Navy communications satellite lifts off from Complex 41 at the Cape Canaveral Air Force Station, Friday, June 24, 2016, in Cape Canaveral, Fla. The satellite is designed to significantly improve ground communications for U.S. forces on the move. (AP Photo/John Raoux) (AP)

Europe has lift off: European stock markets defy expectations, skyrocket for second day running

Some good news from European stock markets, courtesy the Federal Reserve and the Bank of Japan.


Scott Eric Kaufman
September 22, 2016 10:49PM (UTC)

Early on Wednesday, Federal Reserve Chair Janet Yellen released a statement declaring that it would not be changing its benchmark interest rate, news that might not speak well of the American economy, but was greeted with gusto by the European markets.

On Thursday, the European markets had a similar response to the Bank of Japan's decision not to cut interest rates.

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Europe's enamored by the Bank of Japan's continued ability to adjust its policies as the inflation outlook shifts. Italy's FTSE market is up 1.2 percent, the German DAX 1.97 percent, both of which serve to benefit from these moves

Combined, the moves have encouraged risk appetite, and while no individual firm has reaped these benefits yet, semi-conductor Infineon is poised to.


Scott Eric Kaufman

Scott Eric Kaufman is an assistant editor at Salon. He taught at a university, but then thought better of it. Follow him at @scottekaufman or email him at skaufman@salon.com.

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Bank Of Japan Business European Economy Federal Reserve Chair Finance Janet Yellen

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