European stocks demonstrate a lower start

European stocks demonstrate a lower start

On Wednesday, European stocks started lower because financial markets digested the previous session’s comments by ECB Governor Mario Draghi and paid attention to extra remarks by the key bank head.

The EURO STOXX 50 sank 0.86%, Germany’s DAX 30 dipped 0.79% and France’s CAC 40lost 0.84%.

European equities went down after Draghi told that factors applying pressure on inflation in the euro area turned to be mostly temporary.

He added that the ECB sees surge above trend and evenly distributed across the euro area, and stressed that a significant degree of stimulus is still required in the euro zone, and that the EU’s key financial institution should be smart in unwinding it.

Mixed performance was demonstrated by financial stocks because BNP Paribas dipped 0.24% and Societe Generale acquired 0.35% in France. Meanwhile, in Germany Commerzbank surged 1.51%, Deutsche Bank leapt 0.23%.

In London, FTSE 100 lost 0.45%, affected by Hikma Pharmaceuticals PLC, whose stocks decreased 1.72%.

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