BRUSSELS (dpa-AFX) - European stocks tanked Thursday, extending recent losses after European Central Bank President Mario Draghi gave no indication that further economic stimulus is forthcoming.
Draghi acknowledged that the euro zone recovery has been 'weak, fragile and uneven,' but said the ECB will be evaluating more data before taking additional measures.
He also warned about the impact of Russia's tensions with the West over the Ukraine issue.
Meanwhile, the Bank of England once again kept its key rate at a record low on Thursday, sticking to its forward guidance even as the strong pace of economic recovery has augmented speculation for a rate hike late this year.
The Euro Stoxx 50 index of eurozone bluechip stocks dropped 1.24 percent, and is now down 3.1 percent year-to-date.
The German DAX slipped 1 percent, the CAC of France tumbled 1.37 percent, FTSE of the UK was down 0.64 percent.
In Frankfurt, Adidas shares plunged 4.5 percent after the sporting goods maker slashed its profit forecast and postponed its strategic targets for 2015, citing weakness in golf and Russia.
Munich Re lost 2 percent after the insurer reported second-quarter profit that missed analyst estimates.
Car parts maker Rheinmetall lost 1.6 percent. The company cut its annual outlook.
Commerzbank gained 1 percent after reporting increased profit for the second quarter. Deutsche Bank is moderately higher.
In Paris, banks Credit Agricole, Societe Generale and BNP Paribas struggled.
Rio Tinto inched up 0.5 percent. The miner reported significant growth in first-half profit.
Nestle added 3.5 percent in Zurich. The Swiss foods giant reported a fall in first-half profit, reflecting mainly unfavorable exchange rates and lower performance in Europe and developed markets.
The company, however, confirmed its outlook for full year 2014.
Zurich Insurance rose 2.6 percent, after reporting increased second-quarter profit.
In economic news, Germany's industrial production grew marginally at a slower-than-expected pace in June, as geopolitical instability weighed on economic activity.
Industrial output increased 0.3 percent month-on-month in June, reversing the revised 1.7 percent fall in May, Destatis reported. The June's rate of growth was slower than the expected 1.2 percent increase. Nonetheless, this was the first rise in four months.
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