Stocks little changed after ECB decision

Stocks in Europe were little changed, after climbing for seven days, as the European Central Bank kept its benchmark interest rate at a record low and president Mario Draghi said officials could take further policy action to head off any risk of deflation.

US stock index futures and Asian shares were little changed.

Nokian Renkaat Oyj slid 2.1 per cent after cutting its 2014 profit and sales estimates because of weaker Russian demand. Deutsche Bank AG dropped 117 percent as JPMorgan Chase and Co downgraded Germany's largest lender on capital concerns. Pernod Ricard SA fell 1.5 per cent as Credit Suisse Group AG recommended selling the stock. BTG Plc added 1.6 per cent after saying annual sales will be near the top of its forecast range.

The Stoxx Europe 600 Index rose less than 0.1 per cent to 336.96 at 1.53pm in London, following its longest winning streak since October. The equity benchmark has climbed 3.8 per cent since March 24th as improving US data signalled the world’s largest economy is recovering from the harsh winter.

The ECB left its benchmark interest rate unchanged at a record low 0.25 per cent, matching all but three of 57 economists’ projections compiled by Bloomberg. Central bank officials held the deposit rate at zero and the marginal lending rate at 0.75 per cent. (Bloomberg)