European Stocks Down 2% For The Week As ECB Stands Pat

(RTTNews) - European stocks ended a rough week on a lackluster note Friday, stung by dying hopes that the European Central Bank will offer further stimulus anytime soon.

On Thursday, ECB President Mario Draghi said that policy makers await additional data before injecting cash into the struggling euro zone economy.

Risk aversion deepened after U.S. President Barack Obama authorized air strikes against ISIS militants in northern Iraq to protect American personnel and civilians under seize.

The Euro Stoxx 50 index of eurozone bluechip stocks eased 0.21 percent, for a weekly loss of more than 2 percent.

Dexia SA shares dropped 6.2 percent in Brussels. The Franco-Belgian bank widened its first-half net loss to 329 million euros from 178 million euros in the year-ago period.

Vivendi shares slipped 0.9 percent in Paris. Telecom Italia is pursuing an alliance with the French conglomerate that could lead to the media company acquiring a significant stake in the Italian phone carrier, media reports suggest.

Allianz SE gained 0.7 percent in Frankfurt after the German insurer reported second-quarter net income attributable to shareholders of 1.76 billion euros, up 10.5 percent from 1.59 billion euros last year.

Gemalto NV added 4.9 percent in Amsterdam. The digital security services has signed a definitive agreement to acquire data and software protection firm SafeNet from private equity firm Vector Capital for $890 million on a debt free/cash free basis.

In economic releases, German exports rebounded in June, while imports posted its biggest growth since November 2010, helping trim the country's trade surplus, data released by Destatis showed. Exports grew 0.9 percent from the previous month, reversing the 1.1 percent decline in May and beating forecasts for a 0.8 percent increase.