Europe Shares Have Best Day Since 2016 on ECB’s New Bond Package
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European shares gained the most since June 2016 after the region’s central bank unveiled a massive new bond-buying program and President Christine Lagarde signaled there’s “no limit” to the bank’s commitment to the euro.
The Stoxx Europe 600 Index rose 2.9% at the close of trading. Italy’s FTSE MIB climbed 2.3% as the country’s bonds led euro-area gains and the Swiss Market Index gained the most since November 2008. Among sectors, telecom and food-and-drink shares led gains.