European indices closed mixed with most markets near flat on the session.  Sweden closed with a decent gain as did Germany.   Roughly 2/3rds of sectors closed better with strong gains in Retail +1.33% and Basic Resources +1.01%.  Healthcare and Banks slipped on the day.

The Euro sold off on Draghi’s post-ECB-rate-announcement-presser.  As expected rates were left as-is with levels to remain there until at least through the end of the year. QE debt is expected to continue to be rolled over, even after their first rate hike.  Draghi provided no update on TLTRO’s, noting it was too early to provide any details.  The € did manage to rebound and wipe away much of the pullback.

Heavyweight Reckitt Benckiser fell 6.5% as it may very well incur liabilities from US government prosecution over Suboxone Film that was produced by Indivior -72%, which it used to own.  In addition to possible government actions the firm may face lawsuits with the opioid manufacturer space under attack.

Logitech +1.5% worked higher with positive sentiment in the name after their CEO said a big acquisition for the company is “conceivable”.

Post the close Louis Vuitton +.8% said organic revenues rose 15% in their fashion & leather unit vs the expected 12% growth.  The company said all geographic regions saw good growth with US and Chinese wine/spirits accelerating quickly in the 1Q.

Watch tonight for Chinese consumer/producer inflation with FDI expected sometime soon. Tomorrow the ECB Survey of Professional Forecasters will release their view. Both German and French consumer inflation is due.