Slot Gacor Gampang Menang Situs Slot Gacor

European markets open to close; Bank of England interest rate decision

LONDON — European stocks were slightly higher on Thursday, building on gains in the previous session.

The pan-European Stoxx 600 was up 0.3% in early trade. Retail stocks were the standout performers, rising 2.5%, while telecoms fell 0.4%.

The cautiously positive start for European stocks came after a rally on Wednesday on the back of strong US economic data that tamed investors’ fears of a looming recession. The ISM̵[ads1]7;s non-manufacturing purchasing managers’ index showed a surprise rise in July, which also sent US stocks climbing.

Such a move would bring borrowing costs to 1.75% as the central bank battles soaring inflation and would be the first half-point increase since it was made independent of the UK government in 1997. The expected increase comes as UK inflation hits new 40-year highest at 9.4% in June.

Elsewhere overnight, Asia-Pacific shares traded higher on Thursday after a rally on Wall Street and as investors moved on from tension surrounding US House Speaker Nancy Pelosi’s controversial visit to Taiwan.

Stock picks and investment trends from CNBC Pro:

Meanwhile, U.S. stock futures were roughly flat Thursday morning after the major averages took a two-day slide in the previous regular trading session.

Earnings before the bell came from Credit Agricole, Adidas, Bayer, Lufthansa, Merck, Zalando, Rolls-Royce, Next, Glencore and Adecco Group on Thursday.

Lufthansa shares climbed 6% to lead the Stoxx 600 after the German posted a smaller-than-expected quarterly loss.

At the bottom of the European blue chip index, Danish medical equipment company Ambu plunged 14% after cutting its margin forecast and announcing it would lay off around 200 employees.

Source link

Back to top button