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Europe weakens as ECB expands balance sheet

12-29-2011 14:23 BJT

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European equity markets ended a choppy session in negative territory on Wednesday despite that successful auction of shorter-term Italian debt. German and French shares saw additional pressure after the European Central Bank showed it had significantly boosted lending to banks.

The Stoxx Europe 600 index fell 7 tenths of a percent to close at around 240 points, following a largely unchanged close the prior session. It’s turnover remains low and many traders are still away for the Christmas and New Year’s holidays.

Germany’s DAX extended its decline to end down 2 percent, closing at 5-thousand and 771 points, after the ECB said its balance sheet increased by 239 billion euros, or 313 billion US dollars, for the week ending on December 23rd.

London’s FTSE ended 1 tenths of a percent lower. Bank shares in most European markets fell Wednesday as nervousness set in ahead of Thursday’s Italian BOND auction.

 

Editor:Zhang Rui |Source: CNTV.CN

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