- US, European markets rise before Boeing unveils sweeping job cuts
- Small Quebec company dominates one part of NHL hockey: jerseys
- Comoros shock Tunisia, Salah, Mbeumo strike in AFCON qualifiers
- Boeing to cut 10% of workforce as it sees big Q3 loss
- Germany win in Nations League as 10-man Dutch rescue point
- Undav brace sends Germany to victory against Bosnia
- Israel says fired at 'threat' near UN position in Lebanon
- Want to film in Paris? No sexism allowed
- Ecuador's last mountain iceman dies at 80
- Milton leaves at least 16 dead, millions without power in Florida
- Senegal set to announce breakaway development agenda: PM
- UN says 2 peacekeepers wounded in south Lebanon explosions
- Injury-hit Australia thrash 'embarrassing' Pakistan at Women's T20 World Cup
- Internal TikTok documents show prioritization of traffic over well-being
- Israel says fired at 'immediate threat' near UN position in Lebanon
- New US coach Pochettino hails Pulisic but worries over workload
- Brazil orders closure of 2,000 betting sites
- UK govt urged to raise pro-democracy tycoon's case with China
- Sculptor Lalanne's animal creations sell for $59 mn
- From Tesla to Trump: Behind Musk's giant leap into politics
- US, European markets rise as investors weigh rates, earnings
- In Colombia, children trade plastic waste for school supplies
- Supercharged hurricanes trigger 'perfect storm' for disinformation
- JPMorgan Chase profits top estimates, bank sees 'resilient' US economy
- Djokovic proves staying power as he progresses to Shanghai semi-finals
- Sheffield Utd boss Wilder 'numb' after Baldock death
- Little progress at key meet ahead of COP29 climate summit
- Fans immerse themselves in Marina Abramovic's first China exhibition
- Israel says conducting review after UN peacekeepers wounded in Lebanon
- 'Party atmosphere': Skygazers treated to another aurora show
- Djokovic 'overwhelmed' after 'greatest rival' Nadal's retirement
- Zelensky in Berlin says hopes war with Russia will end next year
- Kyrgyzstan opens rare probe into glacier destruction
- European Mediterranean states discuss Middle East, migration
- Djokovic proves staying power as progresses to Shanghai semi-finals
- Hurricane Milton leaves at least 16 dead as Florida cleans up
- Britain face 'ultimate challenge' in America's Cup duel with New Zealand
- Lebanon calls for 'immediate' ceasefire in Israel-Hezbollah war
- Nihon Hidankyo: Japan's A-bomb survivors awarded Nobel
- Thunberg leads pro-Palestinian, climate protest in Milan
- Boat captain rescued clinging to cooler in Gulf of Mexico after storm Milton
- Tears, warnings after Japan atomic survivors group win Nobel
- 'Unspeakable horror': the attacks on Hiroshima and Nagasaki
- Stock markets diverge before China weekend briefing
- Christian villagers 'trapped' in south Lebanon crossfire
- Sabalenka sets up Gauff showdown in Wuhan semis
- EU questions shopping app Temu over illegal products risk
- Kim Sei-young holds lead with late birdies at LPGA Shanghai
- Toulouse welcome Dupont 'boost' as Olympic star returns to Top 14
- Japanese atomic bomb survivor group Nihon Hidankyo wins Nobel Peace Prize
European equities advance before Bank of England rate call
European stock markets rose Thursday as dealers awaited the Bank of England's latest decision on interest rates, after Switzerland cut borrowing costs and Norway kept its status quo.
The euro remained under pressure over France's political uncertainty, with just two weeks to go until a snap election in the country.
Switzerland's franc dipped against the dollar after the Swiss National Bank (SNB) announced its second straight interest-rate cut, having become in March the first Western central bank to slash borrowing costs that had been raised to battle inflation.
The Bank of England (BoE) is widely expected to keep its key rate at a 16-year high later Thursday despite official data Wednesday showing UK headline consumer inflation had finally come down to the bank's two percent target.
- Central banks -
"Central banks are in focus... SNB cuts rates, but don't expect the BoE to follow suit," said Kathleen Brooks, research director at trading firm XTB.
Not wishing to influence politics, the BoE will likely take a wait-and-see stance also owing to the closeness of its meeting to Britain's general election on July 4.
Prime Minister Rishi Sunak's Conservatives are badly trailing Keir Starmer's opposition Labour in opinion polls.
Should the BoE sit tight, market watchers will be looking for clues on whether the UK central bank could cut at the following meeting at the start of August.
The European Central Bank cut earlier this month, while the US Federal Reserve is expected to introduce only one rate reduction this year.
Central banks worldwide had ramped up borrowing costs in recent years to control inflation, which surged when economies emerged from Covid pandemic lockdowns and accelerated after energy producer Russia invaded agricultural power Ukraine in early February 2022.
Elsewhere on Thursday, Asian stock markets were mixed as investors attempted to gauge the Fed's rate outlook.
With Wall Street closed Wednesday, there were few catalysts to drive buying, though sentiment has been buoyed this week by recent data indicating the world's top economy is slowing gradually, giving the Federal Reserve some freedom to ease monetary policy.
Traders are closely following the utterances of US central bank officials on their outlook for rates, with most warning that while inflation was on a downward trajectory, they wanted to see more evidence before committing to a cut.
Analysts say this means there will be two reductions at most, with many predicting just one this year -- in line with the Fed's "dot plot" gauge released last week.
- Key figures around 1015 GMT -
London - FTSE 100: UP 0.2 percent at 8,220.45 points
Paris - CAC 40: UP 0.9 percent at 7,640.40
Frankfurt - DAX: UP 0.7 percent at 18,199.18
EURO STOXX 50: UP 0.9 percent at 4,928.30
Tokyo - Nikkei 225: UP 0.2 percent at 38,633.02 (close)
Hong Kong - Hang Seng Index: DOWN 0.5 percent at 18,335.32 (close)
Shanghai - Composite: DOWN 0.4 percent at 3,005.44 (close)
New York - Dow: Closed for a public holiday
Euro/dollar: DOWN at $1.0725 from $1.0745 on Wednesday
Euro/pound: DOWN at 84.42 pence from 84.44 pence
Dollar/yen: UP at 158.43 yen from 157.90 yen
Pound/dollar: DOWN at $1.2704 from $1.2726
West Texas Intermediate: FLAT at $80.71 per barrel
Brent North Sea Crude: UP 0.2 percent at $85.27 per barrel
burs-rfj/cw
P.Stevenson--AMWN