Economic news

European stocks drop ahead of ECB meeting

European stocks were mostly lower on Thursday as traders awaited the European Central Bank policy meeting. The Stoxx Europe 600 index slipped 0.2% to 400.10.

Photo: Reuters

DAX 30 index in Germany lost 0.4% to 13,363.72, while France’s CAC 40 index ticked up 0.1% to 5,499.28. The U.K.’s FTSE 100 index slid 0.1% to 7,638.19.

The ECB is expected to keep its interest rates unchanged.

Shares of bank Nordea fell 3.3% after the it reported a 43% drop in profits in the fourth quarter.

STMicroelectronics lost 1%, although Europe's largest semiconductor producer increased its profits almost threefold in the fourth quarter of 2017 and raised revenue by a third.

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