- July 21, 2022
- By: Admin1_blog
- EU Market, Indices
Key Points
- The European Central Bank’s policy meeting in Frankfurt on Thursday is at the forefront of investors’ minds, with policymakers having given advance notice of a first hike in 11 years.
- Price rises continue to overshadow the region. On Wednesday, data out of the U.K. showed inflation hit yet another new 40-year high in June as food and energy prices continued to soar.
LONDON — European stocks were slightly lower on Thursday as the region’s investors awaited the European Central Bank’s latest monetary policy decision, in which it’s widely expected to announce its first interest rate hike in years.
| TICKER | COMPANY | NAME | PRICE | CHANGE | %CHANGE | VOLUME |
|---|---|---|---|---|---|---|
| .FTSE | FTSE 100 | *FTSE | 7236.27 | -28.04 | -0.39 | 106420404 |
| .GDAXI | DAX | *DAX | 13166.33 | -115.65 | -0.87 | 17301031 |
| .FCHI | CAC 40 Index | CAC | 6161.55 | -23.11 | -0.37 | 15616963 |
The pan-European Stoxx 600 slipped 0.4% in early trade, with oil and gas stocks dropping 2.1% to lead losses while media stocks gained 1.3%.
The European Central Bank’s policy meeting in Frankfurt on Thursday is at the forefront of investors’ minds, with policymakers having given advance notice of a first hike in 11 years. Still, this comes against a backdrop of slowing growth, the war in Ukraine and threats to energy supplies.
The ECB will publish its monetary policy decision after the meeting of the central bank’s governing council. A press conference will follow at 14:45 CEST with ECB President Christine Lagarde. In June, the central bank said that it intends to raise the key ECB interest rates by 25 basis points at today’s meeting.
Italy has been plunged into fresh political uncertainty with Prime Minister Mario Draghi expected to tender his resignation Thursday after a number of parties in the governing coalition abstained from a vote of confidence that was aimed at renewing and re-uniting the fractious alliance.
Draghi won the vote but many senators refused to take part bringing the national unity government to the brink of collapse. Early elections could now take place in September or October.
Stock picks and investing trends from CNBC Pro:
Morgan Stanley’s Wilson predicts the S&P 500 trough: It will come ‘pretty quickly’
Morningstar strategist says two FAANG stocks look incredibly cheap right now
What traders are watching for before they believe this comeback is for real
Analyst explains how to trade chip stocks right now — and gives one upside of nearly 100%
Price rises continue to overshadow the region. On Wednesday, data out of the U.K. showed inflation hit yet another new 40-year high in June as food and energy prices continued to soar, escalating the country’s historic cost-of-living crisis.
Earnings on Thursday came from Roche, ABB, Givaudan, SAP, Ocado and AngloAmerican.
In terms of individual share price movement, Swedish media company Viaplay Group climbed 9.6% to lead the Stoxx 600 after acquiring U.K. sports streamer Premier Sports.
At the bottom of the index, Swedish cloud communications company Sinch plunged more than 16% after the resignation of CEO Oscar Werner.
Source : CNBC
Leave a Reply