Periphery leads euro zone share rise on ECB boost

jueves 5 de junio de 2014 11:11 GYT
 

* Euro STOXX up 0.7 pct as ECB unveils stimulus measure

* Index cools off after setting 6-yr high

* Banks, southern bourses lead gainers

By Francesco Canepa

LONDON, June 5 (Reuters) - Euro zone shares rose on Thursday, led by banks and periphery indexes, as the European Central Bank unveiled a string of measures to fight low inflation and boost the currency bloc's economy.

The ECB cut rates, effectively charging banks to deposit cash at the central bank, and outlined a four-year 400 billion euro ($544.86 billion) scheme aimed at stimulating credit at a time when banks face tough scrutiny of their asset quality.

Euro zone banks, which depend on the health of the domestic economy for their earnings and are facing stress tests by the ECB, surged 1.3 percent.

The central bank stopped short of large-scale asset buying known as quantitative easing, but chief Mario Draghi said it is preparing for possible purchases of asset-backed securities to support small business and would take more action if necessary.   Continuación...