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European stocks set to open slightly lower amid earnings; Bank of England holds rates

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European stocks were expected to open slightly lower on Thursday morning, as investors monitored a slew of corporate earnings and reacted to the Bank of England’s decision to hold interest rates.

The U.K.’s FTSE 100 was seen off by 36 points at 6,062, France’s CAC index was down more than 10 points at 4,913, while Germany’s DAX was poised to open little changed from the previous session at 12,609, according to IG.

 

It comes after futures contracts tied to the major U.S. stock indexes closed flat on Wednesday, as investors monitored the ongoing brinkmanship between lawmakers over a new prospective stimulus package.

President Donald Trump’s administration threatened on Wednesday to act on its own to provide coronavirus relief after another day of talks on Capitol Hill failed to result in an agreement.

In Europe, the Bank of England said on Thursday it was keeping benchmark interest rates steady at an all-time low of 0.1%.

The central bank left the size of its bond-buying program unchanged at £745 billion ($981 billion), as the country navigates an emergence from lockdown and ongoing Brexit talks with the European Union.

Market focus is expected to be largely attuned to the Monetary Policy Committee’s outlook for the U.K. economy and how sharply it may slow its bond purchases program.

Incorporate news, Siemens, ING and Mediobanca were among some of the companies set to report their latest quarterly results on Thursday.

 

Reprinted from cnbc.com, the copyright all reserved by the original author.

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