European Stocks Open Higher Before Expected BoE Cut
Muhammad Rameez Published August 04, 2016 | 03:51 PM
LONDON, (UrduPoint / Pakistan Point News - 4th Augst,2016) - Europe's stock markets advanced Thursday as investors awaited an expected interest rate cut from the Bank of England. In initial trade, London's FTSE 100 index gained 0.1 percent to 6,643.10 points. In the eurozone, Frankfurt's DAX 30 added 0.6 percent to 10,234.14 points and the Paris CAC 40 won 0.5 percent to 4,344.18. "Today is the day markets widely expect the Bank of England to cut interest rates to fresh lows of 0.25 percent," said economist Ana Thaker at trading firm PhillipCapital UK. "Whether this happens and is accompanied by further monetary stimulus remains to be seen.
" The announcement, due at 1100 GMT after the British central bank's latest monetary policy meeting, would take interest rates to their lowest level in the BoE's 322-year history.
The bank had flagged last month that it might deliver an interest rate cut in August in response to the shock EU exit referendum -- but policymakers did not signal the precise size and nature of any stimulus measures. Asian equities also climbed Thursday, following a positive lead from Wall Street, as investors looked ahead to the BoE rate call and the release of key US jobs data.
Related Topics
Recent Stories
At least 10 people killed in Brazil fire: officials
Shahzaib Rind calls on Deputy Speaker Balochistan
Ahsan chairs 13th CPEC-JCC preparatory meeting, reviews arrangements for high-le ..
DC Tharparkar inaugurates anti-polio campaign
HDA Mehran workers demand salaries
Taxila police nab motorcycle lifter gang
Inter-university weightlifting championship kicks off at SAU
Walk held in a series of enrollment campaigns
Team from Gaza mediator Egypt arrives in Israel for truce talks
Kids murders: IHC orders psychiatric examination of mother
Health minister credits PML-N for advancements in organ transplantation
Court grants interim bail to Azam Swati in cyber crime case
More Stories From Business
-
Ahsan chairs 13th CPEC-JCC preparatory meeting, reviews arrangements for high-level delegation’s v ..
11 seconds ago -
WB director, Planning minister discuss reforms in development projects
8 minutes ago -
IP rights crucial in achieving SDG : Jam Kamal
1 hour ago -
FBR’s data protection efforts commended by OECD assessment team
1 hour ago -
US stocks rebound on tech earnings, London hits new record
2 hours ago -
SECP-IFSB workshop highlights Pakistan's progress in Islamic Finance Development
2 hours ago
-
SBP to announce monetary policy on April 29
2 hours ago -
50pc cut in subsidy of BRT service likely: CM’s aide
3 hours ago -
PSX gains 771 points
4 hours ago -
Pakistan, US hold 7th TIFA meeting to strengthen trade and investment ties
5 hours ago -
Meeting held to streamline trade between Pak-Afghan , Central Asian Republics
4 hours ago -
Coca-Cola invests an additional $22 million in Pakistan
5 hours ago