January 10, 2013 / 2:00 PM / in 5 years

EURO GOVT-Bunds extend losses after ECB says unanimous on rates

LONDON, Jan 10 (Reuters) - German Bund futures fell, stocks rallied and two-year bond yields rose on Thursday after European Central Bank President Mario Draghi said the decision to leave rates on hold at 0.75 percent was unanimous.

Bund futures slid to a session low of 142.91, extending losses by around 40 ticks after Draghi’s comment, which was seen as a departure from last month’s signal that the bank was divided on whether to cut rates. Short-term German bond yields rose 3 basis points on the day to 0.09 percent.

Euribor futures fell as Draghi spoke. The March 2013 contract was down 1.5 basis points and the June 2013 contract was 3 bps lower. Both were flat at the beginning of the news conference.

The FTSEurofirst 300 index of top European shares was up 0.2 percent at a session high of 1,170.11 points at 1347 GMT. The index was flat before Draghi started his press conference.

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