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European stock indexes start mixed as central bank updates

2019-09-19 07:54 am | Resource: News | No Views : 45

 European stocks start mixed as central bank updates

Investors were digesting on Thursday the accompanying signals from the US Federal Reserve, which yesterday cut interest rates, and the subsequent hint from the Bank of Japan that it could boost stimulus next month after a policy review.

European stock indexes have only slightly changed ahead of scheduled speeches by Benoit Coeur and Sabine Lottenschleeger from the European Central Bank and last month's UK retail sector statistical report. Central banks in Switzerland and the UK are on their list of updates today.

Swiss National Bank maintains rates and warns against appreciation

The SNB on Thursday left both the demand deposit and the interest rate at 0.75% below the neutral level. Policymakers, headed by Chairman Thomas Jordan, committed to assessing that expansionary policy is essential. They said the foreign exchange market was "still fragile" and that "the Swiss franc is still of high value," adding that it rose on a trade-weighted basis.

The formula has been in use since September 2017 as the currency fell to more than 1.1 per euro, even when it was seen as "significantly overpriced." The dollar and the common currency rose more than 1% against the Swiss franc in the month before today's update. The central bank estimated that the global economy will recover from the slowdown in the medium term.
  • The dollar fell 0.34% at 9:34 am CET to 0.99403 CHF
  • The euro fell 0.23% to 1.09756.
  • The Swiss franc was up 0.35% at 109.04 yen
  • The pound fell 0.37% against its Swiss counterpart to 1.2394.

European stock openings
  • The FTSE 100 opened 0.2% in the red.
  • The German DAX was down 0.13% with Lufthansa falling 2.29% to the bottom of the list.
  • The CAC 40 rose only 0.06% in the first transactions.

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