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- European stocks close: most stocks closed lower after the European Central Bank’s press conference
European stocks close: most stocks closed lower after the European Central Bank’s press conference
Stock indices closed lower after the European Central Bank's press conference. The European Central Bank kept its interest rate unchanged at 0.05%.
The ECB President Mario Draghi said at the press conference that the central bank will start purchasing covered bonds in the second half of October, while the asset-backed securities (ABSs) program will begin before the end of the year. Both programs will last for at least two years.
Draghi pointed out that the economic growth in the Eurozone is weakening.
Market participants have concerns over the volume of the ECB's asset-buying program.
Eurozone's producer price index fell 0.1% in August, beating forecasts for a 0.2% drop, after a 0.2% decline in July. July's figure was revised down from a 0.1% decrease.
Indexes on the close:
Name Price Change Change %
FTSE 100 6,446.39 -111.13 -1.69%
DAX 9,195.68 -186.35 -1.99%
CAC 40 4,242.67 -122.60 -2.81%
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