Scoreboard: Draghi's tranquiliser

European stocks soared following soothing ECB statements and a calming of nerves over Portugal and Greece.

US markets were closed for the Independence Day holiday but there was plenty of action over in Europe. Check it out: the Dax rose 2.1 per cent, the CaC was up 2.9 per cent while the FTSE passed the 3 per cent mark, if only just (3.1 per cent). These are massive moves and we all know that only one thing could have caused moves of such magnitude: the promise of mo’ money.

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