Markets mixed after ECB interest rate move

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Markets were mixed overnight after European Central Bank president Mario Draghi revealed he was cutting interest rates, including a move to a negative deposit rate.

In an announcement which disappointed some investors and economists, Draghi announced the central bank's latest measures to boost growth, cutting benchmark interest rates to a new historic low of 0.15%, and taking the deposit rate to -0.1%.

European stock markets initially jumped in response to the news, with Germany's DAX index breaking the 10,000 mark for the first time.

However, markets eased back later, with the DAX closing up only marginally, although the peripheries did at least see gains above 1% on the day.

Over in Asia the picture was also mixed, with the Nikkei and the Hong Kong Hang Seng both flat.

In the US, by contrast, markets were buoyant. The NASDAQ Composite index closed up 1.1%, while the S&P 500 and the Dow Jones Industrial Average rose 0.7% and 0.6% respectively.

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