Shares rise 0.1% as markets await ECB interest rate hike
European stocks climbed slightly after a major oil price surge, with the pan-European STOXX 600 index up 0.1% ahead of an anticipated central bank policy shift.
European shares edged higher on Thursday following a sharp decline in the previous trading session. Investors watched a widely expected interest rate decision by the European Central Bank (ECB). The ECB was set to raise its benchmark interest rate by 25 basis points. Market participants closely monitored comments from ECB President Christine Lagarde regarding inflation trends, specifically those driven by soaring oil prices. Brent crude remained above $100 per barrel due to tensions between Iran and the United States. Earlier in the session, European stocks dropped 1.4%. The pan-European STOXX 600 index closed at 641.23 points, up 0.1% at 0708 GMT. Germany's DAX finished broadly flat, while London's FTSE 100 gained 0.1% and France's CAC 40 advanced 0.3%. High energy costs continue to raise concerns about persistent inflationary pressure. Analysts expect the central bank to maintain restrictive monetary policy for an extended period based on current economic data.
