European Stocks Shoot Higher As Draghi Discusses Policy

European stock markets erased earlier losses on Thursday after European Central Bank President Mario Draghi reiterated that the Governing Council stands ready to use unconventional easing measures if needed. The Stoxx Europe 600 index gained 0.8% to 339.08, from trading as low as 334.36 earlier in the day. Germany's DAX 30 index rallied 1.3% to 9,437.03, while France's CAC 40 index put on 1.2% to 4,260.18. The U.K.'s FTSE 100 index added 0.4% to 6,564.84. Meanwhile, the euro dropped to $1.2414 from trading around $1.2522 ahead of the ECB conference.

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