London
11 °C
Manchester
Glasgow
10 °C
Dublin
11 °C
Belfast
Washington
7 °C
Denver
Atlanta
11 °C
Dallas
Houston Texas
19 °C
New Orleans
El Paso
Phoenix
Los Angeles
6 °C
10 °C
-24 °C
-17 °C
-6 °C
6 °C
European stocks rise before central bank decisions on rates / Photo: © AFP
NYSE - LSE
| CMSC | 0.36% | 23.345 | $ | |
| BTI | 0.74% | 57.595 | $ | |
| SCS | 0.12% | 16.14 | $ | |
| GSK | -0.59% | 48.425 | $ | |
| BP | -2.03% | 33.785 | $ | |
| NGG | -0.61% | 76.69 | $ | |
| AZN | 0.71% | 90.506 | $ | |
| RBGPF | -2.23% | 80.22 | $ | |
| RIO | 0.69% | 77.73 | $ | |
| RYCEF | 3.15% | 15.25 | $ | |
| BCE | -0.89% | 22.945 | $ | |
| VOD | 0.62% | 12.89 | $ | |
| BCC | 0.88% | 76.97 | $ | |
| CMSD | -0.09% | 23.26 | $ | |
| JRI | 0.27% | 13.467 | $ | |
| RELX | 1.09% | 41.005 | $ |
European stocks rise before central bank decisions on rates
Europe's main stock markets rose Thursday ahead of interest-rate decisions from the Bank of England and European Central Bank.
The BoE is widely expected to cut its main rate by a quarter point to 3.75 percent as UK inflation has fallen faster than expected. In a later decision Thursday, the ECB is forecast to keep eurozone borrowing costs unchanged.
"Risk sentiment is stabilising as we move towards the end of a week that is packed with policy risks and three central bank meetings," noted Kathleen Brooks, research director at trading group XTB, as traders awaited also Friday's rate decision from the Bank of Japan.
The British pound and euro were both down against the dollar awaiting the central bank updates in Europe. Investors will pore over also US inflation data due Thursday for clues on the outlook for Federal Reserve interest rates.
Asian stock markets mostly sank Thursday after Wednesday's sell-off on Wall Street as worries over the tech sector's colossal spending on artificial intelligence continued to dog investor sentiment.
Hopes for an end-of-year rally have been dealt a blow after the Fed last week hinted that it could pause its rate cuts next month while more questions are being asked about the cash pumped into AI.
Those worries were compounded Wednesday by a report that private capital group Blue Owl had pulled out of market giant Oracle's $10 billion data centre, putting the project in doubt.
That came after Oracle and chip giant Broadcom last week unveiled disappointing earnings reports.
Oracle's share price plunged more than five percent Wednesday, while Broadcom and other sector heavyweights -- including Nvidia, Alphabet and Advanced Micro Devices -- also tumbled.
In Europe, shares in BP rose slightly in late morning deals Thursday after the British energy giant appointed a new chief executive and as oil prices flattened.
- Key figures at around 1045 GMT -
London - FTSE 100: UP 0.3 percent at 9,798.77 points
Paris - CAC 40: UP 0.4 percent at 8,115.00
Frankfurt - DAX: UP 0.2 percent at 24,010.31
Tokyo - Nikkei 225: DOWN 1.0 percent at 49,001.50 (close)
Hong Kong - Hang Seng Index: DOWN 0.1 percent at 25,447.44 (close)
Shanghai - Composite: UP 0.2 percent at 3,876.37 (close)
New York - Dow: DOWN 0.5 percent at 47,885.97 (close)
Euro/dollar: DOWN at $1.1727 from $1.1743 on Wednesday
Pound/dollar: DOWN at $1.3352 from $1.3379
Dollar/yen: UP at 155.89 yen from 155.70
Euro/pound: UP at 87.86 pence from 87.77
Brent North Sea Crude: FLAT at $59.69 per barrel
West Texas Intermediate: UP 0.1 percent at $55.86 per barrel
A.Kim--SG
