(Reuters) – Major European stock markets were down in early trading on Thursday, with the exception of London, ahead of the European Central Bank’s monetary policy announcements later in the day and as they digested a series of corporate results.
In Paris, the CAC 40 lost 0.02% to 7,569.48 points at around 07:44 GMT. In Frankfurt, the Dax fell by 0.12% and in London, the FTSE 100 rose by 0.64%.
The EuroStoxx 50 index lost 0.28%, the FTSEurofirst 300 0.04% and the Stoxx 600 0.02%.
The main event on the agenda is the ECB meeting, which is expected to announce at 1215 GMT a standstill on rates after the first rate cut last month. Investors will be closely watching ECB President Christine Lagarde’s comments, who will speak from 1245 GMT, for clues on the timing of the next rate cut.
Comments on inflation in the services sector and wage growth, which remain stubbornly high, will be particularly closely watched.
In the UK, wages excluding bonuses rose 5.7% year-on-year in the three months to the end of May, as expected, figures showed on Thursday, as the Bank of England (BoE) is due to meet on August 1 and its timing of monetary easing remains uncertain.
In terms of values, the news of European companies remains marked by a deluge of financial results.
In Paris, the advertising group Publicis, which on Thursday raised its organic growth target for 2024, is progressing by more than 6%.
Maurel et Prom, for its part, gained 3.5% after a 37% increase in its turnover in the first half.
Elsewhere in Europe, telecoms equipment maker Nokia fell 9.1% after its quarterly results, which showed weak demand for 5G equipment.
Swedish carmaker Volvo, which reported a bigger-than-expected rise in second-quarter profit on Thursday, is up 1.5 percent.
Semiconductor manufacturers ASM International, ASML Holding and BESI, already battered the day before due to fears of new trade tensions between the United States and China, lost between 0.9% and 2.4% at the opening.
(Written by Diana Mandiá, edited by Blandine Hénault)
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