European stock market close 21 January 2016

  • FTSE +1.6%
  • Cac +1.9%
  • Dax +1.9%
  • Ibex +2.7%
  • FTSE Mib +4.0%

Stocks had started up and then got a boost from Draghi laying the groundwork for further easing. Italy has made the most of his chatter in calming the nerves of those worried about NPLS. There's a turnaround in risk sentiment in general but that might just be a breather rather than a complete u-turn on recent moves

European bonds

  • Italy 1.54% -11bp
  • Spain 1.70% -8bp
  • Portugal 3.08% +15bp
  • Germany 0.453% -3bp
  • Greece 10.03% -12bp