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  • *Draghi says recovery unlikely in coming months. FRANKFURT, Nov 21- European Central Bank President Mario Draghi threw the door wide open on Friday for more drastic measures to prevent the euro zone from sliding into deflation, promising to use whatever means necessary as China also acted to boost its sagging economic growth. "We will do what we must to raise...

  • PARIS, Nov 21- European stocks rallied on Friday, with a benchmark regional index hitting a two-month high, propelled by dovish comments from European Central Bank President Mario Draghi and a surprise interest rate cut from China's central bank. Regional mining shares, highly sensitive to China's economic growth, featured among the top gainers, with Rio Tinto...

  • *Shares soars as China cuts rates, Draghi talks bond buying. *Euro tumbles on Draghi, Aussie rises on China. LONDON, Nov 21- World shares surged on Friday as China surprised markets with its first interest rate cut in more than two years and the European Central Bank's Mario Draghi threw the door wide open to full scale money printing.

  • European shares extend rally after China rate cut Friday, 21 Nov 2014 | 6:48 AM ET

    PARIS, Nov 21- European stocks extended an early rally on Friday morning, led by mining shares after China's central bank cut its benchmark interest rate for the first time in more than two years in an attempt to lift its cooling economy. European mining shares, strongly affected by China's economic growth, featured among the top gainers, with Rio Tinto up 3.9...

  • *Draghi says stronger recovery unlikely in coming months. *Short-term inflation expectations seen "excessively low". FRANKFURT, Nov 21- European Central Bank President Mario Draghi threw the door wide open on Friday for more dramatic action to rescue the euro zone economy, saying "excessively low" inflation had to be raised quickly by whatever means necessary.

  • China, Europe chase growth amid global slowdown Friday, 21 Nov 2014 | 5:52 AM ET

    BEIJING— China's central bank unexpectedly slashed interest rates on Friday to re-energize the world's No. 2 economy, joining a growing list of major economies that are trying to encourage growth in the face of a global slowdown. And Japan's government this week delayed a tax increase after the country slipped back into recession. News of China's actions and...

  • FRANKFURT, Nov 21- European Central Bank President Mario Draghi threw the door wide open on Friday for more dramatic action to rescue the euro zone economy, saying "excessively low" inflation had to be raised quickly by whatever means necessary. Draghi had said on Monday further measures could involve large-scale purchases of government bonds, also known as...

  • *FTSEurofirst 300 up 0.8 pct, Euro STOXX 50 up 1.1 pct. *Euro STOXX 50, DAX, CAC eye first weekly gain of the month. Speculation about more stimulus from the ECB, pinned on comments by Draghi earlier this week, has boosted Germany's DAX, France's CAC and Euro STOXX 50 this week, setting up the three indexes for their first weekly gain this month.

  • ECB head willing to step up stimulus Friday, 21 Nov 2014 | 4:08 AM ET

    FRANKFURT, Germany— European Central Bank head Mario Draghi says the eurozone's chief monetary authority is willing to "step up the pressure" and increase its efforts to stimulate the struggling economy. Draghi said Friday at a banking congress in Frankfurt, Germany that if current efforts do not achieve the desired effect the ECB could "broaden even more the...

  • LONDON, Nov 21- Euro zone indexes were set for their first weekly gain this month as they rose early on Friday, with traders awaiting speeches from European Central Bank policymakers for clues as to whether more stimulus may be under way. French conglomerate Bouygues was the top riser among large European stocks, up 3.3 percent, after the chief executive of Altice...

  • Dow, S&P 500 push further into record territory Friday, 21 Nov 2014 | 1:35 AM ET

    Investors on Friday cheered news of an interest rate cut in China and the possibility that Europe's central bank will step up stimulus efforts in the region. "What it suggests is that these central banks are prepared to do even more to stimulate growth, to stimulate demand, and that always equates to better stock markets," said Quincy Krosby, a market strategist at...

  • Stimulus merits in focus as ECB weighs action Friday, 21 Nov 2014 | 1:11 AM ET

    FRANKFURT, Germany— Japan's return to recession has renewed questions about the effectiveness of its recent monetary stimulus— and how anything similar would help Europe's struggling economy. The European Central Bank is edging toward the same kind of large-scale bond purchases that the Bank of Japan has used. Yet Japan's recession underlines the limits of...

  • MSCI's broadest index of Asia-Pacific shares outside Japan was up about 0.2 percent, though on track for a weekly loss of over 1 percent. Japan's Nikkei stock average bucked the regional trend, dropping 0.8 percent as the yen jumped after Finance Minister Taro Aso warned that its recent weakening was "too rapid." Aso stuck to Japan's stance of allowing the market...

  • FOREX-Yen jumps after Japan fin min warns on rapid fall Thursday, 20 Nov 2014 | 10:30 PM ET

    TOKYO, Nov 21- The yen rose sharply on Friday after Japanese Finance Minister Taro Aso said the currency's fall over the past week was too rapid, in one of the strongest warnings against a weak yen since Japan started its aggressive monetary stimulus two years ago. His comments triggered profit-taking on yen-selling positions that had built up after the Bank of...

  • DIARY - Top economic events to Dec 4 Thursday, 20 Nov 2014 | 7:01 PM ET

    WASHINGTON- Federal Reserve Board Governor Daniel Tarullo testifies on " Physical Commodities" before the Senate Homeland Security& Governmental Affairs permanent subcommittee on investigations in Washington- 1430 GMT. WASHINGTON- New York Federal Reserve Bank President William Dudley testifies to Senate Banking subcommittee on Financial...

  • FOREX-Dollar takes a breather, upbeat data underpins Thursday, 20 Nov 2014 | 5:45 PM ET

    SYDNEY, Nov 21- The U.S. dollar paused for breath on Friday as its recent rapid ascent on the yen attracted profit taking, though the market mood remains bullish on the currency given the outperformance of the U.S. economy. Having climbed almost 10 yen since the Bank of Japan sprang its surprise easing in late October, the dollar was overdue some consolidation if not...

  • German court: e-cigarette liquids not medicines Thursday, 20 Nov 2014 | 2:27 PM ET

    BERLIN— A German federal court has ruled that the liquids contained in e-cigarettes aren't medicinal products and can be sold freely. E-cigarettes are battery-powered devices that produce an odorless vapor which typically contains nicotine, and sometimes flavorings. The Federal Administrative Court delivered its verdict Thursday in a case involving a...

  • Business events scheduled for the coming week Thursday, 20 Nov 2014 | 1:34 PM ET

    BERLIN— Germany's Ifo institute releases its monthly business confidence index, a key indicator for Europe's biggest economy. WASHINGTON— Commerce Department releases third-quarter gross domestic product, 8:30 a.m.; Standard& Poor's releases S&P/Case-Shiller index of home prices for September and the third quarter, 9 a.m.; The Conference Board releases...

  • European markets close: Brink of deflation     Thursday, 20 Nov 2014 | 11:30 AM ET

    CNBC's Simon Hobbs reports on all the market moving events in Europe today, including a contraction for French manufacturing and Citi's call for full blown QE in January.

  • GM's Barra: New investment, SUV for Opel Thursday, 20 Nov 2014 | 11:05 AM ET

    FRANKFURT, Germany— General Motors CEO Mary Barra says the automaker will invest more than half a billion euros in its plants in Europe and build a new SUV at the home base for its Opel division there. On a visit to Germany, Barra said the company plans by the end of the decade to build a new SUV model at Ruesselsheim that would serve as the Opel brand's "second flagship"...