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| - A rally in global stock markets petered out Thursday as investors cashed in on recent gains, with oil prices and the dollar also easing back. The euro rose and southern European bond yields slipped after the European Central Bank added another 600 billion euros ($675 billion) to its already gigantic stimulus war chest, and said it would continue its pandemic bond-buying for another year at least. But if boosted ECB support seems huge, so does the expected eurozone downturn that it is designed to alleviate, with ECB chief Christine Lagarde forecasting a 2020 contraction of 8.7 percent in the area's gross domestic product (GDP). "Whatever it takes," said Holger Schmieding at Berenberg. "Like finance ministers, central banks across the advanced world continue to do their utmost to contain the mega recession." The ECB's move came a day after Germany said it would pump 130 billion euros into a stimulus package to kick-start the region's biggest economy. But European stock markets were unimpressed, with investors happy to take profits "after enjoying a very bullish session yesterday", as David Madden, analyst at CMC Markets UK, put it. On Wall Street, the Dow was slightly down at the opening bell, while the Nasdaq, which had come within spitting distance of a new all-time high, also slipped back. China-US tensions remained on the table meanwhile, after Washington ordered on Wednesday the suspension of all flights by Chinese airlines in and out of the United States. China said it would allow foreign airlines currently blocked from operating in the country to resume limited flights from June 8, lifting a de facto ban on US carriers. Oil was back under pressure amid "rising doubts" that OPEC and its allies will really manage to agree on a meaningful extension to a current crude output agreement, said Ipek Ozkardeskaya, senior analyst at Swissquote Bank. London - FTSE 100: DOWN 0.5 percent at 6,349.00 points Frankfurt - DAX 30: DOWN 0.6 percent at 12,414.99 points Paris - CAC 40: DOWN 0.3 percent at 5,009.70 EURO STOXX 50: DOWN 0.3 percent at 3,260.44 New York - Dow: DOWN 0.4 percent at 26,178.80 Tokyo - Nikkei 225: UP 0.4 percent at 22,695.74 (close) Hong Kong - Hang Seng: UP 0.2 percent at 24,366.30 (close) Shanghai - Composite: DOWN 0.1 percent at 2,919.25 (close) West Texas Intermediate: DOWN 1.5 percent at $36.74 per barrel Brent North Sea crude: DOWN 1.1 percent at $39.37 Euro/dollar: UP at $1.1233 from $1.1232 at 2100 GMT Dollar/yen: DOWN at 108.76 yen from 108.92 yen Pound/dollar: DOWN at $1.2533 from $1.2573 Euro/pound: UP at 89.61 pence from 89.33 burs/jh/wai
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