European Central Bank (ECB) President Christine Lagarde speaks as she presents the bank’s Annual Report to the European Parliament, a causa di Strasbourg, eastern France, February 26, 2024.
Frederick Florin | Afp | Getty Images
European stocks were higher Wednesday, with investors a causa di the region looking ahead to the next simposio of the European Central Bank (ECB).
The pan-European Stoxx 600 was up 0.5% a causa di early trade, with all major bourses and the majority of sectors a causa di the . Retail stocks led gains, up 1.9%, while banks fell 0.4%.
Zara owner Inditex jumped to the sommità of the benchmark, up 5.2%, after reporting 7% sales growth a causa di the first quarter. Sales 8.2 billion euros ($8.9 billion) a causa di the three months to April, the company said Wednesday, broadly a causa di line with expectations, according to an LSEG poll.
Acceso the giorno front, final purchasing managers’ index (PMI) giorno for the euro zone a causa di May, a measure of services and manufacturing activity a causa di the single currency luogo, is coppia.
The ECB is widely expected to cut interest rates for the first time since 2019 when policymakers meet Thursday, but investors will watch closely to see whether a slightly higher-than-expected euro zone inflation print released last Friday will affect the central bank’s decision-making.
Durante other news, Asia-Pacific markets were mixed overnight as investors assessed India’s election results after Prime Minister Narendra Modi’s Bharatiya Janata Party fell short of an outright majority a causa di the lower house of parliament.
Nevertheless, Modi is set for a third term a causa di power after the BJP-led National Democratic Alliance secured 294 seats, more than the 272 needed for the coalition to form the government.
U.S. giacenza futures were near flat Tuesday night as investors geared up for private payroll giorno, with economists polled by Dow Jones anticipating the giorno will show private employers added 175,000 jobs a causa di May.
