Stocks in the European market opened flat on Thursday as investors focus on the outcome of the European Central Bank’s policy meeting which will commence later in the day.
The European Euro Stoxx 50 rose 0.02% higher, opening at 3,238.58, while the German DAX edged 0.04% higher to 9,930.31.
The French CAC 40 slid 0.02% lower to 4,499.78 at the time of writing, while UK’s benchmark FTSE 100 fell 0.04% lower at 6,816.01.
ECB Meeting In focus
As all eyes will be focusing on today’s European Central Bank’s policy meeting as the market predicts that the bankwill cut its benchmark interest rate from 0.25% down to 0.15% or 0.10% during the meeting on Thursday, to tackle the eurozone’s tame inflation, the slow economy recovery and the 17-bloc’s euro currency.
Economic Reports
In France, the nation’s jobless rate dropped to 9.7% in the first quarter, after the 0.7% fall recorded in the previous quarter.
While a separate report showed that Germany’s factory orders increased to 6.3% in April year-over-year and increased 3.1% in April on a monthly basis.
Additional e macroeconomic reports expected to be released includes the eurozone retail sales, with an expectation to see a climb of 1.3% in April year-on-year, compared to 0.9% seen in the previous month.
Ukraine
Apart from the ECB meeting, the G7 meeting in Brussels which began on Wednesday will also be another main event trader’s will focusing on.Russia was not invited to attend the event after the country’s ongoing tension with Ukraine.
The US President Barack Obama met Ukraine’s newly elected President Petro Poroshenko on Wednesday as the country along with other G7 leaders said they were ready to impose further sanctions on Russia.
Stocks – Asia
Stocks in the Asian region were seen mixed on Thursday as Chinese stocks were dragged lower by the downbeat Chinese services activity.
The Japanese benchmark Nikkei 225 index rose 0.08%, closing at 15,079.37, while Tokyo’s Topix index lost 0.10%, ending the session at 1,232.75.
While in China, the market mostly saw losses as the Chinese services industry grew at a slower pace in May. The HSBC services Purchasing Managers Index (PMI) slid to 50.7 in May, compared to 51.4 recorded in April.
Hong Kong’s benchmark Hang Seng index fell 0.28% lower to 23,086.43, while China’s mainland Shanghai Composite gained 0.27% to 2,030.10.
Australia
In Sydney, the benchmark S&P/ASX 200 index edged 0.11% lower, closing at 5,439.00. Meanwhile, Australia’s trade balance fell into deficit after the nation’s exports dropped 1%, while imports increased by 2%, leaving a shortfall in trade at A$122 million.
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Stocks – Europe
Stocks in the European market opened flat on Thursday as investors focus on the outcome of the European Central Bank’s policy meeting which will commence later in the day.
The European Euro Stoxx 50 rose 0.02% higher, opening at 3,238.58, while the German DAX edged 0.04% higher to 9,930.31.
The French CAC 40 slid 0.02% lower to 4,499.78 at the time of writing, while UK’s benchmark FTSE 100 fell 0.04% lower at 6,816.01.
ECB Meeting In focus
As all eyes will be focusing on today’s European Central Bank’s policy meeting as the market predicts that the bankwill cut its benchmark interest rate from 0.25% down to 0.15% or 0.10% during the meeting on Thursday, to tackle the eurozone’s tame inflation, the slow economy recovery and the 17-bloc’s euro currency.
Economic Reports
In France, the nation’s jobless rate dropped to 9.7% in the first quarter, after the 0.7% fall recorded in the previous quarter.
While a separate report showed that Germany’s factory orders increased to 6.3% in April year-over-year and increased 3.1% in April on a monthly basis.
Additional e macroeconomic reports expected to be released includes the eurozone retail sales, with an expectation to see a climb of 1.3% in April year-on-year, compared to 0.9% seen in the previous month.
Ukraine
Apart from the ECB meeting, the G7 meeting in Brussels which began on Wednesday will also be another main event trader’s will focusing on.Russia was not invited to attend the event after the country’s ongoing tension with Ukraine.
The US President Barack Obama met Ukraine’s newly elected President Petro Poroshenko on Wednesday as the country along with other G7 leaders said they were ready to impose further sanctions on Russia.
Stocks – Asia
Stocks in the Asian region were seen mixed on Thursday as Chinese stocks were dragged lower by the downbeat Chinese services activity.
The Japanese benchmark Nikkei 225 index rose 0.08%, closing at 15,079.37, while Tokyo’s Topix index lost 0.10%, ending the session at 1,232.75.
While in China, the market mostly saw losses as the Chinese services industry grew at a slower pace in May. The HSBC services Purchasing Managers Index (PMI) slid to 50.7 in May, compared to 51.4 recorded in April.
Hong Kong’s benchmark Hang Seng index fell 0.28% lower to 23,086.43, while China’s mainland Shanghai Composite gained 0.27% to 2,030.10.
Australia
In Sydney, the benchmark S&P/ASX 200 index edged 0.11% lower, closing at 5,439.00. Meanwhile, Australia’s trade balance fell into deficit after the nation’s exports dropped 1%, while imports increased by 2%, leaving a shortfall in trade at A$122 million.
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