US EditionEuropean Stocks Rise Before Central Bank Decisions on Rates
Markets responded to expected Bank of England rate cut and steady ECB rates while investors awaited US inflation data and navigated tech sector concerns and BP leadership news.
- On Thursday, Europe's main stock markets rose ahead of interest-rate decisions by the Bank of England and European Central Bank, with investors also eyeing US inflation data due Thursday.
- The Bank of England is widely expected to cut its main rate by a quarter point as UK inflation has fallen faster than expected, while the European Central Bank is forecast to keep eurozone borrowing costs unchanged Thursday.
- After Wednesday's Wall Street sell-off, Asian stock markets mostly sank Thursday as worries about the tech sector's artificial intelligence spending lingered and Oracle plunged more than five percent while Broadcom, Nvidia, Alphabet and Advanced Micro Devices also tumbled.
- The British pound and euro were both down against the US dollar awaiting central bank updates, with the euro/dollar DOWN at $1.1727 from $1.1743, Brent North Sea Crude FLAT at $59.69 per barrel, and West Texas Intermediate up 0.1 percent at $55.86 per barrel.
- Hopes for an end-of-year rally have been dented after the Fed last week hinted at a pause and Blue Owl pulled out of Oracle's $10 billion data centre, with Kathleen Brooks noting 'Risk sentiment is stabilising as we move towards the end of a week that is packed with policy risks and three central bank meetings'.
14 Articles
14 Articles
In Brussels, the Bel20 lost 0.29% at the opening. The European Stock Exchanges opened without much change on Thursday, waiting for the policy decision...
European Markets Hold Breath Amid Central Bank Decisions
European Markets Hold Breath Amid Central Bank Decisions European shares remained largely unchanged on Thursday as investors awaited key central bank announcements from the region and crucial U.S. inflation data. The pan-European STOXX 600 index showed a slight decline of 0.1%, while Germany's DAX also dipped, contrasting with modest gains in other major bourses.The Bank of England's anticipated rate decision added to the cautious sentiment, wit…
In terms of economic events, this afternoon the Bank of England and then the European Central Bank will announce their interest rate decisions, which will determine the continent's monetary path until the end of the year. In parallel, key data is also coming from the United States: today they will publish the November inflation data, as well as the weekly jobless claims and the Philly Fed index, which can directly move the dollar and bond yields…
The European budgets are based on this Friday (18) final account for monetary policy decisions by the main central banks of the region. The market expects flexibility by the Bank of England, while the European Central Bank must keep the rate of interest unchanged and can bring tone in its communication indicating that the next step will be high. Around 7h27 (in Brazil), the European pan-European index Stoxx 600 was 0.31%, at 588.47 points. At th…
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