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European markets up as central banks plan interest rate cuts

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European markets up as central banks plan interest rate cuts

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European shares closed up, with the Dow Jones climbing from its biggest drop in six weeks, as central banks mull over plans to boost growth. The FTSE is up, as is the German DAX and France’s CAC 40. Tesco, Britain’s biggest supermarket chain, rose close to 10 percent. The company cites its new budget range for bringing in an extra 300,000 shoppers a week. Oil prices closed down, with Brent at just over 46 dollars a barrel. Economists now await the expected interest rate cut by the European Central Bank and the Bank of England.