NEW YORK, Sept 15 — Global stock markets rose while the Euro slid on Thursday after the European Central Bank signalled its latest interest rate hike could be its last.
The SoftBank-supported firm’s banner initial public offering left it with a market capitalisation of around US$65 billion — well above its target. “I want to keep as much as possible as long as possible,” SoftBank chief executive Masayoshi Son told CNBC on Thursday.The Dow Jones Industrial Average rose almost 1 per cent, while the S&P 500 and the Nasdaq both increased.In Frankfurt, the ECB opted for another interest rate hike of 0.25 percentage points on Thursday as it continues the fight against inflation, taking the closely-watched deposit rate to its highest level since the introduction of the euro in 1999.
In its updated forecast, the ECB now sees inflation falling to a near target level of 2.1 per cent in 2025.
Source: News Formal (newsformal.com)
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