Major European stock indices traded flat

European stocks were little changed after a sharp rise the previous session. The market appreciates the recent decision of the European Central Bank, and investors focus on the meeting of the Federal Reserve next week.

The composite index of the largest companies in the region Stoxx Europe 600 rose 0,1%, to 352.43 points.

The Italian FTSE MIB stock index lost 1.1% during the trading session. Since the beginning of this week the value of the indicator soared by 6.7%, best week in five years.

The stock market virtually ignored the decision of the Italian Prime Minister Matteo Renzi to resign after constitutional reform was rejected in the referendum held on 4 December.

The European Central Bank had decided to extend quantitative easing (QE) to the end of 2017. Monthly volumes of purchase of assets within the framework of QE, however, will be reduced from April to 60 billion euros to 80 billion euros.

In addition, the ECB kept its benchmark interest rate unchanged at a record low, in line with expectations.

Against this backdrop, bank stocks rose sharply, but on Friday are correcting. Barclays shares fell by 2%, Lloyds Banking Group - 1,4%, Royal Bank of Scotland - 0,8%, HSBC - 0.2%.

Oil and mining companies rise slightly in the course of trading. BP shares increased by 0,2%, Total +0,4%, Antofagasta +0,3%, BHP Billiton +1.1%.

Shares of the German insurance company Allianz fell 0.4% after the Financial Services Authority (FCA) published Friday a proposal of rules and guidelines for insurance in case of insolvency.

Vivendi shares rose 2.1% after the French media group increased its stake in Ubisoft Entertainment to 25.15%, approaching the "hostile takeover."

At the moment:

FTSE 6937.97 6.42 0.09%

DAX 11147.95 -31.47 -0.28%

CAC 4740.93 5.45 0.12%