European stocks go down as ECB caution creeps in
On Thursday, European stock markets went down, as market participants digested the latest raft of corporate updates and also stayed cautious ahead of the ECB gathering later in the day.
The Stoxx Europe 600 index SXXP lost 0.1%, reaching 343.58. On Wednesday, this index tacked on 0.3%.
Everybody will pay attention to the ECB’s policy verdict, followed by ECB President Mario Draghi’s news conference.
The bank’s widely expected to avoid changes in its policy mix, viewed as keeping interest rates at a record minimum and confirming it’s going to purchase about €80 billion a month of mostly government bonds until March of 2017.
At HSBC, economists also stressed they expect no action at Thursday’s gathering, though they see the major bank extending the QE program at its December gathering.
Stocks of Publicis Groupe tumbled 5.1% for one of the greatest losses in the European Union after the advertising company posted sales growth, which missed expectations.