PARIS (Reuters) – European stock markets opened lower on Thursday, with investors positioning themselves ahead of the announcement of the European Central Bank’s (ECB) monetary policy decision later in the day.
In Paris, the CAC 40 fell 0.17% to 7,442.91 points around 08:29 GMT. In Frankfurt, the Dax lost 0.24%, compared to 0.12% for the FTSE in London.
The pan-European FTSEurofirst 300 index lost 0.12%, the EuroStoxx 50 0.13% and the Stoxx 600 0.19%.
Futures on New York indices suggest a dispersed opening on Wall Street, with the Dow Jones rising 0.19%, against a hesitant Standard & Poor’s 500 and Nasdaq.
The ECB will announce its rate decision at 1:15 p.m. GMT.
Monetary policy is expected to remain at its current restrictive level, but investors will pay attention to the press conference following the decision as uncertainties over the path of inflation in the euro zone accumulate.
Tensions in the Red Sea, in particular, and pressures on wages remain two factors that could contribute to a lasting recovery in inflation, as it rebounded in December.
Investors will also be watching for the fourth quarter US GDP release at 1:30 p.m. GMT.
In terms of values, STMicroelectronics lost 1.04% after announcing Thursday that its turnover in the first quarter would fall by more than 15% year-on-year.
Nokia reported a 27% drop in fourth-quarter operating profit on Thursday, while beating expectations, sending the stock up 6.4%.
(Written by Corentin Chappron, edited by Blandine Hénault)
©2024 Thomson Reuters, all rights reserved. Reuters content is the intellectual property of Thomson Reuters or its third party content providers. Any copying, republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. “Reuters” and the Reuters Logo are trademarks of Thomson Reuters and its affiliated companies.