Major European indices take the ECB rate hike in stride

The major European stock indices Indices Stock market indices represents an index that measures a particular stock market or a segment of the stock market. These instruments are important investors as they help compare current price levels with past prices to calculate market performance.The main two parameters for indices are that they are both investable and transparent. For example, investors can invest in a stock market index by buying an index fund, which is structured as either a mutual fund or an exchange-traded fund, and track Stock market indices represents an index that measures a particular stock market or a segment of the stock market. These instruments are important investors as they help compare current price levels with past prices to calculate market performance.The main two parameters for indices are that they are both investable and transparent. For example, investors can invest in a stock market index by buying an index fund, which is structured as either a mutual fund or an exchange-traded fund, and track Read this Term took the ECB's 50 basis point Basis point A basis point is a unit of measurement used to express the change in value of a financial instrument, such as a bond or a loan. One basis point is equal to 0.01%, or one one-hundredth of a percentage point. For example, if the interest rate on a bond increases from 5% to 5.25%, that is an increase of 25 basis points. It is often used in the context of interest rates, yield, and credit spreads. The short-hand for a basis point is bps and on a trading floor you will hear them referred to as ' A basis point is a unit of measurement used to express the change in value of a financial instrument, such as a bond or a loan. One basis point is equal to 0.01%, or one one-hundredth of a percentage point. For example, if the interest rate on a bond increases from 5% to 5.25%, that is an increase of 25 basis points. It is often used in the context of interest rates, yield, and credit spreads. The short-hand for a basis point is bps and on a trading floor you will hear them referred to as ' Read this Term hike in stride. The indices are all closing solidly higher with the Frances CAC leading the way.

A look at the closing levels shows:

• German DAX, +1.57%
• Frances CAC, +2.03%
• UK's FTSE 100 +0.89%
• Spain's Ibex +1.50%
• Italy's FTSE MIB +1.47%
• Euro STOXX index, +1.3%

Looking at the forex market, the AUD is the strongest of the majors. The NZD is the weakest. Overnight, the Australian employment report was stronger than expectations . That has helped that currency. Conversely, GDP was weaker in NZD which got that currency off to a weak start. The USD is mostly lower with declines of -0.16% to -0.47% vs all the major currencies with the exception of the NZD (the USD is up 0.23% vs the NZD). .