BR100 Decreased By (-0.15%)
BR30 Decreased By (-0.74%)
KSE100 Decreased By (-0.41%)
KSE30 Decreased By (-0.67%)
BECO 5.80 Decreased By ▼ -0.23 (-3.81%)
BML 58.03 Increased By ▲ 5.28 (10.01%)
BOP 33.85 Decreased By ▼ -0.40 (-1.17%)
CNERGY 8.15 Decreased By ▼ -0.01 (-0.12%)
DCL 11.77 Decreased By ▼ -0.57 (-4.62%)
FCCL 53.35 Decreased By ▼ -0.54 (-1%)
FCSC 5.40 Increased By ▲ 0.18 (3.45%)
FFL 17.89 Decreased By ▼ -0.14 (-0.78%)
FNEL 1.31 Increased By ▲ 0.01 (0.77%)
HUMNL 11.06 Increased By ▲ 0.06 (0.55%)
KEL 8.05 Decreased By ▼ -0.06 (-0.74%)
KOSM 5.45 Increased By ▲ 0.07 (1.3%)
MLCF 87.19 Decreased By ▼ -0.86 (-0.98%)
NBP 184.60 Decreased By ▼ -1.88 (-1.01%)
PACE 11.62 Increased By ▲ 0.90 (8.4%)
PAEL 40.31 Increased By ▲ 0.37 (0.93%)
PIAHCLA 26.10 Decreased By ▼ -0.07 (-0.27%)
PIBTL 17.09 Decreased By ▼ -0.23 (-1.33%)
PPL 228.40 Decreased By ▼ -4.38 (-1.88%)
PRL 34.59 Decreased By ▼ -0.36 (-1.03%)
PTC 67.35 Decreased By ▼ -0.21 (-0.31%)
SEARL 91.00 Increased By ▲ 0.07 (0.08%)
SSGC 26.90 Decreased By ▼ -0.27 (-0.99%)
TELE 8.53 Decreased By ▼ -0.04 (-0.47%)
THCCL 66.14 Increased By ▲ 6.01 (10%)
TPLP 9.29 Increased By ▲ 0.53 (6.05%)
TREET 24.59 Increased By ▲ 0.05 (0.2%)
TRG 71.69 Decreased By ▼ -0.06 (-0.08%)
WAVES 10.98 Increased By ▲ 1.00 (10.02%)
WTL 1.28 Increased By ▲ 0.02 (1.59%)
Markets

European stocks fall further on 'underwhelming' ECB

Published December 4, 2015 Updated December 4, 2015 10:44am

imageLONDON: Europe's main stock markets sank further in Friday opening deals on lingering disappointment over "underwhelming" eurozone stimulus measures, dealers said.

London's FTSE 100 index shed 0.4 percent to 6,247.51 points in initial trade.

Frankfurt's DAX 30 slid 0.2 percent to 10,770.16 points and the Paris CAC 40 lost 0.3 percent to stand at 4,715.69 compared with Thursday's closing level.

The region's equities had plunged on Thursday as the European Central Bank's latest stimulus plan disappointed investors, sparking a global sell off that spilled over into Wall Street and Asia.

Speculation has swirled for weeks that the ECB would ramp up its bond-buying programme and further loosen monetary policy to inject some vim into a eurozone beset by years of torpid growth and stagnant inflation.

Stimulus hopes were stoked again on Wednesday by news that eurozone inflation languished at 0.1 percent in November -- far lower than the ECB's official 2.0-percent target.

The bank on Thursday cut deposit rates further into negative territory -- meaning lenders must pay to park cash with it and so look to loan more -- and extended the length of its bond purchases.

However, the long-awaited announcement was seen as a huge let-down as it crucially failed to increase the size of the stimulus while the rate cut was less than hoped for.

"Equity markets took a notable shake out yesterday in response to the underwhelming actions of the ECB," said TrustNet Direct analyst Tony Cross.

"The Central Bank's stimulus measures fell some way short of expectations, initiating degree of panic across the board.

"This rattled US markets after the European close last night and is once again taking a toll in early trade as the week's final session gets underway."

Copyright AFP (Agence France-Presse), 2015

Comments

Comments are closed for this article.