European Markets Wait for Central Bank Announcements, Travel and Budget Airlines Take Flight

European markets are trading around the week’s highs this morning as traders await the monthly announcements from the European Central Bank. There could be falls if, as many analysts now suggest, ECB chief Mario Draghi offers no new stimulus measures such as interest rate cuts or quantitative easing. Frankfurt has also been buoyed by moves by the Russian central bank to strengthen the ruble, which may help sustain Germany exports. London’s TUI Travel is up strongly this morning, after announcing good results ahead of its all-share, no premium merger with its German parent TUI AG later this month. Unilever to spin out its margarines and spreads business. Pay TV operator Sky surprised the market with the sale of its betting unit SKY Bet to private equity buyer CVC in an $1.25 billiondeal.