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US, European Stock Prices Surge on ECB Chief's Remarks

Written: 2012-07-27 08:36:15Updated: 2012-07-27 09:54:31

US, European Stock Prices Surge on ECB Chief's Remarks

U.S. and European stock prices surged sharply on Thursday.

The Dow Jones Industrial Average at the New York Stock Exchange saw a growth of nearly two percent.

Stock prices in France jumped more than four percent, in Germany by two-point-75 percent and in London by one-point-36 percent.

The interest rate on Spain's ten-year bonds, which had continuously stood at more than seven percent this week, fell under seven percent on Thursday.

Stock prices surged after European Central Bank President Mario Draghi pledged on Thursday that “the European Central Bank, within its mandate, is ready to do whatever it takes to preserve the euro.”

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