Markets rally as ECB starts bond buying programme

The central bank is purchasing asset-backed securities as it takes new steps to tackle the looming threat of deflation in the eurozone. The beginning of further easing in Europe - to go alongside record low interest rates - was given further weight by a Reuters report suggesting the ECB could begin buying corporate bonds later this year. That sparked buying across markets today as investors returned to stocks that have sold off for much of October. The UK's FTSE 100 was up 1% at 6,330, while France's CAC 40 was 2% firmer, and Germany's DAX climbed 1.7%. All major markets across ...