European shares closed higher across the board Tuesday after ECB President Mario Draghi defended the central bank's bond-buying program after a meeting with German Chancellor Angela Merkel and following upbeat U.S. economic reports.
If life in the euro zone’s economically embattled periphery was not bad enough, now the coffee culture emblematic of southern Europe is under siege. Italians are having to cut back on their cappuccinos and espressos and Spaniards are dropping their cortados, contributing to a sharp drop in wholesale coffee prices. The FT reports.
European shares closed lower Monday, as a drop in German business sentiment and fresh worries over Spain and Greece pushed nervous investors towards more defensive equity sectors such as health-care stocks.
"Super" Mario Draghi of the European Central Bank has a super problem: the markets might love him, the bankers might love him, politicians from Athens to Dublin might love him, but the German people don't. He's been called anything from "bankers' buddy" to "counterfeiter of coins", and depicted by the tabloid press as a devil sporting horns and a trident, set against a distinctly angelic Bundesbank president Jens Weidmann.