European stocks set for higher open as investors eye ECB's rate step
Istanbul, June 6 (Hibya) - European stocks are expected to open higher on Thursday, with traders anticipating that the European Central Bank will cut borrowing costs for the euro area for the first time since September 2019.
The U.K.’s FTSE Index is seen opening 27 points higher at 8,270, Germany’s DAX 75 points higher at 18,642, France’s CAC 40 up 28 points at 8,032 and Italy’s FTSE MIB 139 points higher at 34,711, according to the expectations.
Although the ECB is widely expected to cut interest rates when policymakers meet, investors will watch closely to see whether a slightly higher-than-expected euro zone inflation print released last Friday affects the central bank’s decision-making.
The ECB's upcoming meeting has sparked interest in European markets and had a global ripple effect. Asia-Pacific stocks saw a rise as investors awaited the central bank’s rate cut, while softer U.S. labour market data on Wednesday fueled hopes that the U.S. Federal Reserve might follow suit, further amplifying market sentiment.
U.S. stock futures changed slightly in overnight trading after the S&P 500 notched a new record, closing high thanks to a rally in artificial intelligence chip darling Nvidia.
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