European Equities Close Mixed in Thursday Trading; European Central Bank Cuts Rates
The European stock markets closed mixed in Thursday trading as The Stoxx Europe 600 was off 0.12%, Germany's DAX was down 0.53%, the FTSE 100 in London was flat, France's CAC 40 declined 0.60%, and the Swiss Market Index rose 0.54%.
The European Central Bank said it cut its three key interest rates by 25 basis points based on its "updated assessment of the inflation outlook, the dynamics of underlying inflation and the strength of monetary policy transmission." However, the Bank added that the disinflation process is "well on track."
The ECB's interest rates on the deposit facility, the main refinancing operations, and the marginal lending facility have been lowered to 2.25%, 2.40% and 2.65% respectively, effective April 23.
And in corporate news, shares of Siemens Energy surged more than 10% on the DAX after the company reported better-than-expected preliminary Q2 earnings and raised its fiscal year 2025 outlook.
UK financial services company Barclays said Thursday that it will form a new joint venture with Brookfield Asset Management to separate and grow its UK payment acceptance unit, with the aim of preparing it for a potential sale.
Source: MT newswires
