European shares rose on Wednesday, bolstered by hopes for more stimulus from the European Central Bank and upbeat U.S. economic data that calmed anxiety over a deteriorating global outlook.
The Australian dollar hit a four-year low against its U.S. counterpart before U.S. data likely to prove crucial for this week’s recovery of several currencies against the dollar.
Euro zone government bonds and shares gained after ECB Vice President Vitor Constancio said on Wednesday the bank might decide in the first quarter of 2015 whether to buy sovereign bonds. His comments were the clearest indication yet of the timing of any purchases.
The pan-European FTSEurofirst index .FTEU3 was up 0.3 percent at 1,392.94. It has been rising daily since Friday, when ECB President Mario Draghi spoke on the likelihood of more stimulus and China cut interest rates.
Germany’s DAX index .GDAXI rose for the 10th straight day, its longest winning streak since May 2013.
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