Stocks in Europe are set to start Friday's session lower, as investors are still digesting news of further stimulus in the euro zone.
div > div.group > p:first-child"> The FTSE 100 is seen down by 47 points at 7,110; the DAX 30 is set to open lower by 67 points at 11,450; and the CAC 40 is set to start off by 34 points at 5,233; according to IG.
In Asia, shares traded lower amid weaker-than-expected Chinese trade data. Chinese exports dropped 20.7 percent in February from a year ago, which has raised questions about the broader economic growth in the region – a key element to global growth. But in Europe, investors are still digesting an announcement from the European Central Bank Thursday. President Mario Draghi announced a fresh round of loans to boost lending in euro zone banks and, thus, stimulate the real economy. He also said that interest rates will continue to remain at current levels for at least until the end of the year. The ECB also slashed its growth forecast for the euro zone from 1.7 to 1.1 percent for this year.
"The European Central Bank tried to get ahead of the curve. The measures demonstrate the ECB's determination but will do little to tackle the drivers of the current slowdown," Carsten Brzeski, chief economist at ING Germany, said in a note Thursday.
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