Eurozone stock rally burns out fast after ECB 'bazooka'

Eurozone stocks on Thursday failed to sustain a rally prompted by the ECB slashing interest rates as investors' focus quickly shifted to the central bank's gloomy economic forecasts instead. Equities surged in an initial reaction to the ECB cutting its main interest rate to zero percent for the first time, and boosting the amount of stimulus it is pumping into the economy, with Paris and Milan rising more than three percent within minutes of the announcement, and Frankfurt by over two percent. "