market turmoil: european shares move higher after japan stocks soar 7% - live /

Published at 2016-02-15 15:13:10

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China reopens only marginally lower after the fresh year smash despite a huge miss on trade data,while Japan boosted by hopes of more stimulus measures.
Europe’s markets follow Asia higherEarlier: Nikkei up despite GDP slump and China trade missJapanese economy shrank 1.4% in Q4 %Banks vulnerable to global shock, says economist 1.13pm GMTIt is doubtful that HSBC ever intended to leave the UK and highly likely chancellor George Osborne paid too tall a price to ensure it stayed, or says economics editor Larry Elliott.
Hi
s full analysis is here: Related: HSBC's gunboat diplomacy worked well. Too well 12.59pm GMTIs the European Central Bank’s Outright Monetary Transactions policy - president Mario Draghi’s promise in 2012 to do “whatever it takes” to save the euro - legal?The European Court of Justice has ruled it is,but on Tuesday a German court will look at the issue (although no judgement is expected until the summer. UniCredit’s Andreas Rees says:Tomorrow, a public hearing on the OMT before the German Constitutional Court (GCC) will steal site. Besides the complainants, and Bundesbank President Weidmann and ECB Executive Board Member Mersch will also attend. The ruling is expected by summer.
In June 2015,the European Court of Justice (ECJ) already stated that the OMT is legal under EU law. However, the GCC made the controversial claim of having the right to deliver a final judgment as far as German institutions (the Bundesbank) are concerned.
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Source: theguardian.com

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