Euro zone shares fall as ECB sticks to QE decision next year

jueves 4 de diciembre de 2014 11:21 GYT
 

* Euro STOXX 50 down 1.1 pct, FTSEurofirst down 0.9 pct

* ECB's lack of details on fresh stimulus unnerves investors

* Italian, Spanish, Greek banks lead declines

By Francesco Canepa

LONDON, Dec 4 (Reuters) - Euro zone shares fell on Thursday after the European Central Bank cut growth and inflation forecasts and said it would make a decision on further stimulus early next year.

That disappointed some traders who had bet that Thursday's meeting would bring details of additional measures, possibly a U.S.-style government bond-buying scheme, seen as strongly supportive for the equity market.

ECB President Mario Draghi said the bank would reassess the impact of its recent policy measures early in 2015, though not necessarily in January, and take further action -- including such quantitative easing -- if needed.

"Investors were hoping for more substance on sovereign bond purchases, but Draghi hasn't given investors anything that is really new," said John Smith, senior fund manager at Brown Shipley.

At 1441 GMT, the euro zone Euro STOXX 50 <.STOXX 50E> index was down 1.1 percent at 3,211.92 points. The pan-European FTSEurofirst 300, which had been hovering just below a seven-year high, was down 0.9 percent at 1,388.07 points.   Continuación...