German DAX drops on Draghi announcement

Source: Bloomberg
© Scanpix/AFP

On Thursday German stocks experienced sharp decline after ECB President Mario Draghi said the bank will not boost sovereign debt purchases. Germany's benchmark index DAX 30 fell for a third day in a row losing 1.1% to 5,927.27 in Frankfurt afternoon trade. Main downside contribution was provided from German financials as Commerzbank AG and Deutsche Bank AG gave up 5.3% and 1.6%, respectively. Automakers also declined with BMW edging down 3.79% and Daimler AG giving up 3.55%.

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Thu, 08 Dec 2011 18:52:08 GMT

FTSE 100 fluctuates on Thursday

British stocks gained on Thursday after Bank of England decided to keep its key interest rate unchanged and ECB announced the cut of its lending rate. Main supporters for UK's benchmark FTSE 100 were tobacco producers and telecommunications firms. British American Tobacco PLC added 1.7% while BT Group PLC and Vodafone Group PLC ascended 1.6% and 1.4% respectively. Nevertheless, after Draghi's statement that ECB will not buy

Thu, 08 Dec 2011 16:39:31 GMT

Dow Jones swings between gains and losses

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