Markets in Europe opened higher on Thursday as investors await an announcement from President Mario Draghi of the ECB (European Central Bank) on further monetary stimulus.The Stoxx 600 was up by 0.26 percent with most sectors trading in the green.
Basic Resources were the best performing sector in early morning trade.
Investor expectations point to an extension of the ECB's quantitative easing program by another six months but along with some signals that this monetary policy would not last forever.
Meanwhile, the Italian authorities have requested more time from the ECB to fix the capital issues of its third largest lender – Banca Monte Dei Paschi di Siena, according to the Financial Times. The bank outlined in a letter to the ECB that the current political instability has made it very difficult to proceed with the recapitalization process, according to the report.
The ECB will present its latest rate decision at 12.45 p.m. London time.
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