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European Stocks Rise After ECB President Draghi Signals Central Bankers Ready to Act

Renee Cordes
Jonathan Marino
8/25/14 7:33 AM EDT
European stocks rose Monday after European Central Bank President Mario Draghi signaled that central bankers are prepared to tweak monetary policy if needed and as German business confidence fell for the fourth straight month. As U.K. markets were closed for a bank holiday there, investors across the continent were mainly in a buying mood after Draghi signaled that policy makers are ready to act – with “unconventional measures” -- if inflation drops further in the euro zone. In Zurich, drug maker Roche Holding AG was up slightly on news of its $8.5 billion purchase of California biotech firm InterMune announced over the weekend. On Monday, Bloomberg News reported that Roche has dropped plans to bid for the 38% of Japanese drug maker Chugai Pharmaceutical Co. it does not already own. Chugai slumped 9.15% in Tokyo to 3,325 yen. In Hong Kong, China Petroleum & Chemical Corp., known as Sinopec, advanced after posting a better than expected 7.5% rise in first-half profit.
Stocks in this video: ROG:VX4519:JP386:HK

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