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European Markets Open Lower After ECB's Draghi Announces Further Stimulus


Friday, 8 March 2019 15:19 WIB

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Stocks in Europe start Friday's session lower, as investors are still digesting news of further stimulus in the euro zone.

The pan-European Stoxx 600 was down by 0.6 percent to 373.88 with almost every sector in the red.

In Asia, shares traded lower amid weaker-than-expected Chinese trade data. Chinese exports dropped 20.7 percent in February from a year ago, which has raised questions about the broader economic growth in the region – a key element to global growth.

But in Europe, investors are still digesting an announcement from the European Central Bank (ECB) Thursday. President Mario Draghi announced a fresh round of loans to boost lending in euro zone banks and, thus, stimulate the real economy. He also said that interest rates will continue to remain at current levels for at least until the end of the year. The ECB also slashed its growth forecast for the euro zone from 1.7 to 1.1 percent for this year.

Source : CNBC


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