Read more about European stocks trim losses as ECB slows bond buying on recovery on Business Standard. The Stoxx 600 Europe Index was 0.2% lower by 2:15 p.m. in London.
European stocks pared losses after the said it will slow down the pace of its pandemic bond-buying program in a sign of confidence in the region’s economic recovery. The Stoxx 600 Europe Index was 0.2% lower by 2:15 p.m. in London. It had earlier dropped as much as 0.9%. Cyclical sectors were mainly under pressure, with energy stocks dropping the most, while travel and leisure declined, weighed down by an 11% slump in EasyJet Plc after the airline announced a share sale and said it rejected a takeover approach. The ECB on Thursday decided to conduct purchases at a “moderately lower pace” than in the previous two quarters. Officials also reiterated a pledge to keep the 1.85 trillion-euro program running until March 2022 or later if needed, signaling they’re not yet ready to discuss how and when to end emergency stimulus. This is a relief for equity investors that have been concerned that stimulus measures might get pulled back more quickly.
