European Market Review -First Place Finance - Germany has extra spending money

European stocks jumped Monday amid expectations for stimulus from the leading central banks.The pan-European Stoxx 600 closed provisionally advanced than 1%, with basic resources surging over 2%.

German Finance Minister Olaf Scholz yesterday stated that Germany has the fiscal possibilities to mitigate any coming economic crisis. He even indicated that Berlin could provide additional 50 billion euros ($55 billion) of extra spending.

The direction Brexit will become more lcaer when this week the new British aPrime Minister Boris Johnson encounters his German and French counterparts.

In fact, Johnson travelld to Berlin Wednesday and Paris Thursday will be his first official trip abroad since being installed in 10 Downing Street in July.

The Turkish central bank introduced news regulatory changes that determine the amount of cash lenders have to put aside as reserves.

As a matter of fact, required reserve ratios for banks with loan to surge of 10% to 20% will be set at 2% with some forecasts while remaining unchanged for other banks.