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Most stock indices closed lower as investors doubt the effectiveness of a European Central Bank's stimulus measures. The European Central Bank (ECB) lowered its interest rate to 0.05% from 0.15% yesterday. The central bank also cut its deposit facility rate to -0.20% from -0.10% and its marginal lending rate to 0.30% from 0.40%.
The ECB President Mario Draghi said the central bank will start buying asset-backed securities, including covered bonds. Details of the asset-backed securities (ABS) program will be announced later.
The U.S. labour market data was mixed. The U.S. unemployment rate declined to 6.1% in August from 6.2% in July, but U.S. economy added only 142,000 jobs in August. That could mean that the Fed may wait before hiking its interest rate.
Investors monitor any developments in Ukraine. Representatives of Ukraine and pro-Russian separatists agreed on a ceasefire.
German industrial production climbed 1.9% in July, exceeding expectations for a 0.5% gain, after a 0.4% rise in June. June's figure was revised up from a 0.3% increase.
Indexes on the close:
Name Price Change Change %
FTSE 100 6,855.1 -22.87 -0.33%
DAX 9,747.02 +22.76 +0.23%
CAC 40 4,486.49 -8.45 -0.19%
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