Friday, 9 June 2017

Markets mixed as ECB drops reference to lower rates

Markets were mixed on Thursday.

In the US, the S&P 500 was little-changed but the Nasdaq Composite rose 0.4 percent to close at a record.

Elsewhere, the STOXX Europe 600 was also little-changed while in Asia, the Nikkei 225 fell 0.4 percent even as most other Asian stock markets rose.

The European Central Bank left interest rates unchanged at its monetary policy meeting on Thursday. In addition, it dropped any reference to a future rate cut.

Mario Draghi, president of the ECB, said in a press announcement in Tallinn, Estonia, that the bank considered the risk in the region to now be “broadly balanced”.

On the political front, former FBI Director James Comey’s appearance in front of the US Senate Intelligence Committee concluded without any significant revelations.

However, in the UK election, an exit poll suggested that Prime Minister Theresa May's Conservative Party would fail to secure a majority in parliament, triggering a fall in sterling.

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