European stock markets sept 6 2012

European stock markets sept 6 2012 : European stock markets moved higher in afternoon action on Wednesday, after a Bloomberg News report said that the European Central Bank's proposed bond-buying program would involve unlimited, sterilized buying.

An upward revision to productivity of the U.S. nonfarm business sector also supported markets. The Stoxx Europe 600 index (XX:sxxp) rose 0.3% to 266.32. France's CAC 40 index (FR:px1) added 0.7% to 3,421.94, while Germany's DAX 30 index (DX:dax) gained 0.6% to 6,975.06. The U.K.'s FTSE 100 index (UK:ukx) slipped 0.1% to 5,666.45.

Today marks an important day for the stock market as the European Central Bank’s (ECB) monetary policy meeting that is scheduled to take place during the course of the day could decide the fate of bond-buying scheme.

German Chancellor Angela Merkel has indicated that she is likely to accept temporary ECB bond buying. Keeping the hope alive, the FTSE 100 is likely to open on an optimistic note, with 15 to 18 points in the green, as investors are watchful of the Bank of England’s monetary policy meeting scheduled later today.

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