7 Mar 2016
European equities drop on talk of limited ECB action
The stock markets across Europe retreated in early trading as buying interest was restricted by the talk of limited ECB action this week.
At the time of writing, pan-European Euro Stoxx 50 index was down 0.45%. Germany’s DAX was down 0.70%, along with a 0.40% drop in France’s CAC index. UK’s mining heavy FTSE index was down 0.50% as well.
Shares in UK’s Glencore were down 3.7%. Randgold Resources was down 3.10% as well. Norway’s Seadrill gained 37% on signs of falling US oil production.
The investors digest the possibility of a limited ECB action this week. As per MNI report released on Friday there is no consensus among ECB policymakers beyond deposit rate cut. Furthermore, the 10 basis point rate cut, which is widely expected, appears to have been priced-in by the markets.
At the time of writing, pan-European Euro Stoxx 50 index was down 0.45%. Germany’s DAX was down 0.70%, along with a 0.40% drop in France’s CAC index. UK’s mining heavy FTSE index was down 0.50% as well.
Shares in UK’s Glencore were down 3.7%. Randgold Resources was down 3.10% as well. Norway’s Seadrill gained 37% on signs of falling US oil production.
The investors digest the possibility of a limited ECB action this week. As per MNI report released on Friday there is no consensus among ECB policymakers beyond deposit rate cut. Furthermore, the 10 basis point rate cut, which is widely expected, appears to have been priced-in by the markets.