European stocks pull back from 3-month high ahead of ECB decisions

European stocks fell on Thursday, for the first time in 4 days, on profit-taking from the 3-month high reached yesterday, and ahead of the ECB decision later today on the emergency stimulus program. 

The Stoxx Europe 600 index fell 0.5% as of 10:57 GMT, after it closed higher by 2.5% yesterday and posted a 3-month high of 369.09 points, as the insurance sector shares rallied, led led by the French insurance company AXA, and upbeat data that raised hopes about a quick global economic recovery from the coronavirus impact.

The pan European index opened lower today, to head for the first daily loss in 4 days, and pullback form its 3-month high, with most European markets and sectors seeing red today.

The automotive sector saw the largest losses in Europe today, dropping 1.5%, on profit-taking from previous gains. 

At 11:45 GMT, the European Central Bank will unveil its interest decision and the monetary policy statement, and the bank is expected to to extend the pandemic emergency bond-purchase program, to ease the worst recession in the eurozone since World War II.

S&P 500 futures fell 0.5%, after the index closed higher by 1.4% yesterday at Wall Street, posting its fourth straight daily gain, and posted the highest level since March.

Back to Europe, the Euro Stoxx 50 index fell 0.6%, France's CAC 40 fell 0.6%, Germany's DAX lost 0.7%, and the UK's FTSE 100 dipped 0.3%.