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European shares open mixed ahead of European interest rate decision

2019-09-12 07:46 am | Resource: News | No Views : 22

 European shares open mixed ahead of European interest rate decision

European stocks started mixed on Thursday as market watchers await the European Central Bank's decision on whether to cut interest rates and introduce a new stimulus program.

In other news, Hong Kong Exchange and Clearing Limited's $ 36.6 billion offer to the London Stock Exchange has been reported to be scrutinized in Washington and British American Tobacco said it would cut 2,300 jobs by January next year. Investors also digested Germany's CPI data for August, and awaited the EU's industrial production data later in the day.

Inflation in Germany fell to 1.4% in August

Consumer prices in Germany rose 1.4% in August compared to the same month last year, according to a report by the Federal Statistical Office (Destatis) released on Thursday. The figure confirmed previous interim results and recorded a drop from July's annual inflation rate of 1.7%.
  • On a monthly basis, the CPI fell 0.2% from July.
  • Germany's harmonized consumer price index in August rose 1% year on year
  • But it fell 0.1% on a monthly basis.

Euro hits one-week low against dollar

The euro fell against the dollar during Wednesday's trading as investors awaited the ECB meeting and its interest rate decision. The ECB will announce its interest rate decision on Thursday amid expectations it will be cut below zero with the prospect of a new quantitative easing program. In terms of trading, the euro fell against the dollar by 0.3% to 1.1006, the lowest level in a week.

European stock openings
  • The French CAC 40 and the British FTSE 100 were flat at the start of trading.
  • The DAX gained 0.30% as Covestro AG advanced 2.14% in the opening bell.

The Euro and the British Pound held steady against the Dollar, approaching 1.1016 and 1.2336 respectively at 9:04 CET.

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