ROME: European equities closed sharply under pressure Thursday after investors were left disappointed by the measures announced by the European Central Bank (ECB).
The pan-European STOXX 600 fell sharply, finishing down 3.1 percent provisionally. France’s CAC 40 and Germany’s DAX slumped sharply, both closing down 3.6 percent. London’s FTSE also slipped, ending 2.3 percent lower.
Investors were left disheartened following the latest news out of the ECB monetary policy committee meeting. The European Central Bank’s president Mario Draghi said that the bank would extend its asset purchase program until at least March 2017.
The ECB also announced that it would extend the range of assets eligible for purchase to include debt issued by local and regional governments. However. analysts suggested Draghi offered markets the “bare minimum of easing”, resulting in the sell-off seen in stocks.
