Bund futures erase losses on Draghi comments

LONDON Thu Feb 7, 2013 8:48am EST

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LONDON Feb 7 (Reuters) - Bund futures and European stocks rose on Thursday after European Central Bank President Mario Draghi said economic weakness should prevail early in 2013 and inflationary pressures should be contained.

Bund futures were last 9 ticks higher at 142.63, having traded around 142.40 before the comments. Euribor futures rose as well, with the largest moves seen in long-dated contracts.

The pan-European FTSEurofirst 300 equity index turned positive, and was up 0.1 percent at 1,152.89 points by 1344 GMT, having been in negative territory before Draghi started speaking.