European stocks rise ahead of ECB’s decision, Christine Lagarde's remarks

Economies.com
2019-12-12 12:20PM UTC

European stocks rose in morning sessions on Thursday, to extend gains for the second straight session, in a limited range of trading amid anticipation for the ECB last monetary policy meeting in 2016 and the bank's chair Christine Lagarde's statements after the meeting, in addition to the British snap election, which will have a notable impact on the Brexit crisis.

 

Stoxx Europe 600 rose by 0.1% as of 11:47 GMT, as it closed higher by 0.2% yesterday, and posted its first daily gain in the last 3 sessions. 

 

The index opened today's session higher, to extend its gains for the second straight session, as most of the major European exchanges and sectors rose today.

 

The technology sector saw the largest gains in Europe today, with a rise by 0.6%, after most tech shares posted strong gains on Wall Street. 

 

At 12:45 GMT the European Central Bank will unveil its interest rate decision, and will be followed by President of the ECB Christine Lagarde's press conference at 13:30 GMT.

 

Investors are anticipating any hints and cues about future monetary policy decisions by Lagarde, for more insight on whether the ECB will continue in the same path as the former President Mario Draghi, or not.

 

S&P 500 futures rose by 0.2% today, while it closed higher by 0.3% yesterday at Wall Street, its first daily gain in 3 days, after Fed held US interest rates unchanged and hinted a pause during 2020.

 

Back to Europe, the Euro Stoxx 50 index rose by 0.1%, the German DAX rose 0.1%, while France's CAC 40 rose by 0.1%. 

 

In London, the FTSE 100 index rose by 0.5%, as British voter head to the snap elections that will determine the fate of the Brexit and the UK's monetary policy.

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