The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, November 14, 2023.
Staff | Reuters
LONDON — European markets were mixed on Friday, on course to round out a positive week after a deluge of key policy decisions from major central banks.
The pan-European Stoxx 600 index was back to the flatline by mid-afternoon, having given back earlier gains of around 0.5%. Mining stocks climbed 1.8% while banks dropped 0.5%.
The European blue chip index closed Thursday’s trade up 0.9% after earlier hitting its highest point since January 2022.
Wednesday saw the U.S. Federal Reserve keep interest unchanged in a range between 5.25% and 5.5%, but risk sentiment in markets was boosted as the central bank revealed that policymakers were penciling in at least three rate cuts next year.
On Thursday, both the Bank of England and the European Central Bank also kept their respective interest rates unchanged, but the former pushed back against market expectations by retaining its hawkish guidance that monetary policy is “likely to need to be restrictive for an extended period of time.”
Alongside its decision, the ECB revised down its growth and inflation forecasts for the euro area and announced plans to speed up the shrinking of its balance sheet.
U.S. stock futures were higher in early premarket trading on Friday after the Dow Jones Industrial Average notched a fresh record high, as the index heads for its best weekly winning streak since 2019.
Shares in Asia-Pacific also climbed overnight, led by Hong Kong, as markets in the region picked up the baton from Wall Street despite Chinese data showing an uneven recovery in the world’s second-largest economy.
Source link: https://www.cnbc.com/2023/12/15/european-markets-open-to-close-earnings-data-and-news.html