European close: Dovish ECB sparks a big rally

<p>The ECB appears to have gotten the message that the economy is slowing and has now pledged data dependency towards hiking in September and/or beyond. Market pricing puts Sept hike odds at 38%.</p><p>European equities like what they heard. Closing changes today:</p><ul><li>Stoxx 600 +1.4%</li><li>German DAX +1.7%</li><li>FTSE 100 +0.3%</li><li>French CAC +2.2%</li><li>Italy MIB +2.1%</li><li>Spain IBEX +1.0%</li></ul><p>The DAX is up against the June highs now:</p>

This article was written by Adam Button at www.forexlive.com.