May 2, 2013 / 1:05 PM / 4 years ago

Bunds rise, stocks fall as ECB's Draghi speaks

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LONDON, May 2 (Reuters) - German Bund futures erased losses on Thursday in choppy trading as investors digested comments from European Central Bank President Mario Draghi's news conference.

Draghi said the bank would monitor economic developments closely and monetary policy will remain accomodative for as long as needed.

"We first had a small sell-off as people booked profits, now other people are buying the dip thinking the ECB may do more in the future," one bonds trader said.

The Bund future reversed losses and last stood up 4 ticks on the day at 146.62.

The pan-European FTSEurofirst 300 index gave up its earlier gains to turn negative, trading down by 0.1 percent at 1,200.55 points by 1252 GMT. Some in the stock market were disappointed there were no more measures announced at the news conference.

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