FTSE 100 drops following ECB conference

FTSE 100 Index, British benchmark stock market gauge, Thursday decreased by 1.69 percent, or 111.13 points, to 6,446.39, as the European Central Bank (ECB) conference disappointed traders.

The ECB decided to keep key rates unchanged and unveiled further details of its asset-backed security (ABS) and covered bonds programs that will launch in mid-October.

The central bank decided to maintain the interest rate on the main refinancing operations, the interest rates on the marginal lending facility and the deposit facility at 0.05 percent, 0.30 percent and -0.20 percent respectively.

But the bank did not specify an overall amount for the ABS-buying program, and traders were dismayed that ECB President Mario Draghi gave no further hints about extra measures such as quantitative easing (QE).

Besides, British construction purchasing managers' index (PMI) inched up higher to 64.2 in September from 64.0 in August, registering the 17th consecutive month of exceeding the 50.0 activities expansion threshold, said Markit Economics Limited Thursday.

Hargreaves Lansdown' share price increased by 0.43 percent, topped the gainers of the blue chips. Fresnillo and Randgold Resources increased by 0.33 percent and 0.02 percent respectively.

Ashtead Group led the top losers of the blue chips with a share price drop of 4.59 percent, followed by Sainsbury (3.93 percent), BG Group (3.61 percent), Weir Group (3.58 percent) and InterContinental Hotels Group (3.56 percent).

The index has decreased 1.45 percent so far this year when adjusted in U.S. dollar.