Associated Press/Carolyn Kaster
European stocks were lower on Thursday despite ECB President Mario Draghi offering little sign that the central bank will be withdrawing its massive programmes of stimulus any time soon.
"Risks surrounding euro area growth outlook, while moving towards more balance, are still tilted to the downside," Draghi said at a press conference after the ECB left interest rates and QE unchanged for another month.
Stocks initially dropped during morning trade following on from a negative session in the USA on Wednesday after President Trump's long-awaited tax plan announcement and were actually little moved after Draghi's comments.
Here's the scoreboard at the close of play:
In Britain, the FTSE 100 dropped close to 0.7% dragged lower by shares in pensions, investments, and insurance firm Legal & General, which dropped more than 5.5% on the day.
At the other end of the table, Lloyds Banking Group gained 2.3% following a positive set of results, which showed profits more than doubling.
"Lloyds ability to generate capital, and its limited needs to retain much of that within the bank mean that it has great dividend potential," Steve Clayton, a fund manager at Hargreaves Lansdown said in an emailed statement.
Middle East-based but London-listed private healthcare group Mediclinic was the FTSE's best performer, gaining more than 17% after a regulatory change in Abu Dhabi which will save the group a large amount of money.
Here is the FTSE's chart:
The Trump administration has rolled out a tax plan that proposed to slash corporate taxes, tweak personal tax rates, and eliminate most deduction used by wealthier Americans.
The plan contains broad outlines rather than firm legislative text, with that lack of detail proving a disappointment to the markets.
"Nice ideas, but far from a done deal, merely adding to investor frustration about the lack of progress on all those election pledges that helped fuel risk appetite and markets to recent highs," Mike van Dulken of Accendo Markets put it in his morning email.
- One of the most popular stocks in America has lost almost half its value in 2 years
- If you look at it this one way, stocks aren't all that expensive
- The stock market has stopped paying attention to what Trump says
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