DRAGHI MAKES POINT: A day after markets were buoyed by a heavy hint from policymakers at the the U.S. Federal Reserve that the bank was ready to raise interest rates in December for the first time in more than nine years, the ECB`s Draghi hinted again at a further stimulus. In a speech, Draghi said the bank would not hesitate" to expand its stimulus program at its next meeting in early December if needed to support the economic recovery. He said the ECB needed to assess whether "if left to its own forces, the economy will be able to achieve a self-sustaining trajectory ..... If not, then it will require more monetary stimulus."
EURO PRESSURED: The heavy hint dented the euro currency as traders priced in the growing likelihood of a divergence in policy between the Fed and the ECB. Europe`s single currency was down 0.4 percent at $1.0686.
ANALYST TAKE: Craig Erlam, senior market analyst at OANDA, said Draghi provided "a clear signal to the markets that the ECB intends to provide additional stimulus when it meets in a couple of weeks, the only question now is what will it do and how far will it go."
ASIAN SCORECARD: Japan`s Nikkei 225 edged up 0.1 percent to 19,879.81. South Korea`s Kospi was up less than 0.1 percent at 1,989.86. Hong Kong`s Hang Seng was up 1.1 percent to 22,754.72. The Shanghai Composite Index in China rose 0.4 percent to 3,630.50. Australia`s S&P/ASX 200 rose 0.3 percent to 5,256.10.
ENERGY: Benchmark U.S. crude fell 34 cents to $40.20 77 a barrel in electronic trading on the New York Mercantile Exchange while Brent crude, used to price international oils, rose 5 cents to $44.23 a barrel in London.
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