Markets Went Gangbusters In Europe — Here's What Happened

REUTERS/Alessia Pierdomenico

Customers wait to buy ice-cream inside the Giolitti ice-cream shop in downtown Rome.

Markets are closed in the U.S. for Independence Day.

But they were open in Europe, and they went totally nuts.

England's FTSE 100 jumped 3.0%.

France's CAC 40 rallied 2.9%.

Germany's DAX climbed 2.1%.

Spain's IBEX 35 gained 3.0%.

Italy's FTSE MIB surged 3.4%.

These moves came in the wake of two big central bank announcements.

Bank Of England

First, was the Bank of England. Today was the first Monetary Policy Committee meeting with Canadian Mark Carney at the helm, and the markets are feeling it. In its statement, the BoE said it would look into giving forward guidance.

The dovish tone of the statement also caused the pound to tank.

ECB

Later, the European Central Bank straight up gave forward guidance.