MW: European stocks drop as ECB cuts growth forecast
By Sara Sjolin
LONDON (MarketWatch) -- European stock markets turned lower in afternoon action on Thursday, after European Central Bank President Mario Draghi said ECB staff cut its forecast for 2013 growth to a 0.6% contraction versus a March forecast of a 0.5% fall in gross domestic product. The staff, however, lifted the 2014 forecast to 1.1% from 1%. The Stoxx Europe 600 index XX:SXXP -0.41% lost 0.1% to 294.92, after trading as high as 296.36 ahead of the news conference. The U.K.'s FTSE 100 index UK:UKX -0.46% fell 0.1% to 6,410.49, while Germany's DAX 30 index DX:DAX -0.12% was slightly higher at 8,198.13. France's CAC 40 index FR:PX1 -0.12% was up 0.2% to 3,860.34.
