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- European stocks close: stocks closed lower after the European Central Bank’s interest rate decision and press conference
European stocks close: stocks closed lower after the European Central Bank’s interest rate decision and press conference
Stock indices closed lower after the European Central Bank's interest rate decision and press conference. The ECB kept its interest rate unchanged at 0.15%.
The ECB President reiterated that interest rates will remain at low levels "for an extended period of time" and the ECB could launch unconventional measures to tackle low inflation.
Mr. Draghi warned that tensions between Russia and the EU over Ukraine may affect the economic recovery in the EU.
Germany's industrial production climbed 0.3% in June, after a 1.7% decline in May, but missing expectations for a 1.4% rise. May's figure was revised up from a 1.8% fall.
The Bank of England kept its interest rate at 0.50% and its asset purchase facility program at £375 billion. This decision was widely expected by investors.
Adidas AG shares declined 4.8% after the company lowered its profit forecast for 2014.
Beiersdorf AG dropped 1.8% after missing first-half revenue analyst's forecasts.
Nestle SA jumped 3.4% after the company announced plans to buy back up to eight billion Swiss francs of its shares.
Indexes on the close:
Name Price Change Change %
FTSE 100 6,597.37 -38.79 -0.58%
DAX 9,038.97 -91.07 -1.00%
CAC 40 4,149.83 -57.31 -1.36%
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