The European Central Bank is expected to hike interest rates as the Euro zone tries to tackle mounting inflation.
Daniel Roland | AFP | Getty Images
European markets pulled back slightly on Thursday as investors digested a slew of corporate earnings and looked ahead to the European Central Bank’s latest monetary policy announcement.
The pan-European Stoxx 600 fell 0.3% by mid-morning, with tech stocks shedding 1.9% to lead losses while oil and gas stocks added 1.7%.
Investors are waiting to see the outcome of Thursday’s European Central Bank meeting, which is expected to deliver a 75 basis point rate hike. The meeting should also signal the Bank’s quantitative tightening plans as the bloc attempts to control its 10% inflation rate.
Major corporate earnings on Thursday came from Credit Suisse, Shell, Unilever and TotalEnergies.
U.S. stock futures rose early on Thursday morning as investors seemed to brush off disappointing results from Meta Platforms.
Shares in the Asia-Pacific were mixed Thursday as investors digested economic data in the region.
Read More: European markets retreat as investors track earnings, ECB meeting; Credit Suisse down 14%