Draghi soothes stocks after mauling, oil steady

January 21, 2016 2:59 PM

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LONDON A bounce in European shares, a tentative stabilization in oil and soothing sounds from ECB head Mario Draghi helped steady global markets on Thursday, after a torrid few days that has wiped trillions of dollars off asset values.

A 3-percent slump in Chinese stocks had given Asia another bruising, so there was relief as a more than 1 percent jump for London's FTSE, Germany's DAX and France's CAC 40 as Draghi hinted at more rate cuts, pulled markets out of their nosedive.

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