Europe finishes lower after ECB keeps rates unchanged

Thursday, 25. July 2019 17:30

Major European stock markets closed lower on Thursday after the European Central Bank's decision not to change the interest rates. Central bank's President Mario Draghi rejected lowering the inflation goal and declined to elaborate on the intensity of possible measures in the future. Meanwhile, new British Prime Minister Boris Johnson presented his newly formed cabinet and elaborated on the government's goals. Following his speech, European Union's chief Brexit negotiator Michel Barnier warned lawmakers Johnson may attempt to blackmail Brussels in order to get the Irish backstop removed.

The FTSE 100 was 0.17% lower at 5:30 pm CET as Sage Group plc fell 10.36%. The DAX tumbled 1.28%, with Covestro AG slipping 3.75%. The CAC 40 was 0.50% lower at the closing bell, as Atos lost 5.39%.

The euro was 0.16% higher against the dollar at 5:29 pm CET to change hands for 1.11575, while the pound remained unchanged at $1.24820.

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Breaking the News / MD