Saturday, 2 March 2024

European stocks stable ahead of central bank decisions ‎

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European stocks were largely stable at the beginning of a week full of economic events as investors awaited the release of US inflation data and the decisions of major global central banks regarding interest rates, while the decline in metal prices led to a decline in mining company shares.

According to Reuters, the European STOXX 600 index stabilized after rising on Friday to its highest levels since February 2022.

Although bets on lowering interest rates receive the most attention, the main reports on inflation in the United States this week are closely followed in order to gauge the horizon of monetary policy, as investors prepare for the decisions of the Federal Reserve (the US central bank) regarding interest rates on Wednesday. The Bank of England and the European Central Bank on Thursday

Among individual stocks, Encavis stock fell 4.4% to the bottom of the STOXX 600 index after Morgan Stanley downgraded the German renewable energy company’s rating.

Cheapsetted shares jumped 8.1% after the Norwegian media group said it had concluded a non-binding agreement to sell its news media operations to the Tenius Trust Foundation.

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