European markets move higher ahead of ECB rate decision
European markets moved higher on Thursday morning as traders await the European Central Bank’s next monetary policy decision. The pan-European Stoxx 600 was trading up nearly 0.2% at around 8:40 a.m. in London, with most sectors in positive territory.The European banking index led the gains, up about 0.9%, while mining stocks fell 1.2%.
The ECB is widely expected to cut interest rates for the third time this year on Thursday as risks of inflation in the European Union easing faster than expected.Price increases in the euro area cooled to 1.8% in September, below the central bank’s 2% target.
In Asia-Pacific overnight, Chinese property stocks fell following a briefing by the country’s housing ministry, dragging down the broader CSI 300 index.Most other Asia-Pacific markets were lower. U.S. stock futures were near the flatline on Thursday after the Dow Jones Industrial Average closed at a record for the second time this week.
Source: CNBC
