Europe: Stocks drop before ECB update

EUROZONE stock markets fell at the open on Thursday (Jun 9) with all eyes on the outcome of the European Central Bank's (ECB) latest monetary policy meeting.

Frankfurt's DAX index dropped 0.6 per cent to 14,359.69 points and the Paris CAC 40 lost 0.5 per cent to 6,418.03.

The euro steadied against the US dollar and British pound.

The ECB is Thursday expected to announce the end date to its bond-buying stimulus, as concerns over the accelerating pace of inflation in the eurozone grip policymakers.

The stop is a prelude to the ECB hiking interest rates for the first time in more than a decade.

Outside the eurozone, London's FTSE 100 index opened with a loss of 0.4 per cent at 7,563.71 points. AFP