European Stocks Climb Ahead of Yellen Testimony

European stock markets moved broadly higher, led by a nearly 1% gain in the FTSE 100 after an unexpected dip in the jobless rate and as BoE’s Broadbent suggested he is not ready to join the rate hike camp. The DAX managed to clear the 12500 level after strong EMU production data and as ECB’s Visco stressed again that the Eurozone still needs a strongly expansionary policy. U.S. stock futures are also higher ahead of Yellen’s testimony. The positive session Europe followed mixed closes in Asia overnight, where Nikkei and ASX where hit by currency appreciation, while the Hang Seng managed to close with a 0.64% gain.

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