European stocks steady after ECB stimulus boost

FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, September 11, 2019. /Staff() – European shares were roughly flat in early trading on Friday, on course for a fourth straight week of gains after the European Central Bank took strong action on economic growth and signaled governments should also do more. ECB chief Mario Draghi pledged indefinite stimulus on Thursday to revive an ailing euro zone economy, tying the hands of his successor for years to come as he cut rates deeper into negative territory. By 0712 GMT the pan-European STOXX 600 index had fallen just 0.03%, while the euro zone only index .STOXXE was marginally higher. Trade-reliant commodity-linked .SXPP and automotive .SXAP stocks edged up after U.S. President Donald Trump said he could consider an interim trade deal with China ahead of high-level negotiations in October. In corporate news, Deutsche Bank AG (DBKGn.DE) rose 1.5% after becoming the first of 16 financial services companies to resolve claims that it conspired to rig prices of bonds issued by Fannie Mae (FNMA.PK) and Freddie Mac (FMCC.PK). Reporting by Sagarika Jaisinghani in Bengaluru; editing by Patrick GrahamOur Standards:The Thomson Trust Principles.