European stocks get ECB boost, euro fades

Europe's main stock markets got a boost on Thursday as the ECB pledged to further ease monetary conditions if necessary and hinted at quantitative easing to keep deflation at bay. However stocks gave up much of their gains, with Frankfurt's DAX 30 ending the day up just 0.06 percent at 9,628.82 points and London's FTSE 100 index sliding into negative territory, giving up 0.15 to 6,649.14 points. But the CAC 40 in Paris jumped 0.42 percent to 4,449.33 points, its highest close since before the global financial crisis started in 2008. Milan soared by 1.38 percent and Madrid by 1.42 percent. As expected, the European Central Bank kept its gunpowder dry again, holding its key "refi" interest rate at an all-time low of 0.25 percent for the fifth month in a row. However ECB chief Mario Draghi later told journalists the bank "remains resolute in our determination" to keep monetary conditions in the euro area accommodative and will "act swiftly" if necessary. "We do not exclude further monetary easing," he added, according to a news agency.