European markets close higher after ECB cuts rates for the third time this year
European markets closed higher on Thursday as traders assessed a flurry of corporate results and the European Central Bank’s third interest rate cut of the year.
The pan-European Stoxx 600 provisionally closed 0.84% higher with almost all sectors and major bourses in positive territory.
Food and beverage stocks led the gains, ending 1.9% higher, while telecoms stocks dipped 0.34%.
The ECB on Thursday delivered its third interest rate cut of the year as inflation risks in the European Union ease faster than expected.
The central bank lowered the deposit rate by a further 25 basis points at its October meeting. It comes after price rises in the euro area cooled to 1.8% in September, below the central bank’s 2% target.
In the Asia-Pacific region, China property stocks dropped on Thursday following a briefing by the country’s housing ministry, dragging the broader CSI 300 index. Most other Asia-Pacific markets fell.
U.S. stocks rose Thursday on the back of strong economic data, easing lingering fears of a potential recession, while getting a boost from semiconductor names.
« Go Back
Our Events
-
Jan 28, 2019
[FiinPro Data] 2018 Earnings Update: 82% of businesses reported profits with a 16% growth
-
Dec 07, 2018
-
Oct 22, 2018
-
Oct 09, 2018
-
Apr 28, 2020
FiinGroup - Liberation Day and International Workers' Day Closing Announcement 2020
-
Oct 22, 2018
Vietnam Real Estate - Where is the market heading to?
The domestic real estate market has had a period of strong growth in the past five years, will this bull market continue and support real estate stocks to lead the market?