BUSINESS European stock markets climb in early deals


European stock markets climb in early deals


17:01, November 07, 2019

European stock markets climbed in early trading on Thursday, with eyes on London as the Bank of England updates its economic forecasts alongside its latest interest-rate decision.


File photo: AFP

London's benchmark FTSE 100 index showed a gain of 0.3 percent at 7,420.63 points around 45 minutes after the open -- and compared with Wednesday's closing level.

In the eurozone, Frankfurt's DAX 30 index won 0.7 percent to 13,275.17 points and the Paris CAC 40 advanced 0.2 percent to 5,880.07 points.

The Bank of England is expected to announce that its main interest rate will remain at 0.75 percent following a regular monetary policy meeting.

Alongside the announcement, due at 1200 GMT, the BoE will give its latest UK economic growth and inflation forecasts.

It comes ahead of a British general election on December 12, which caused the government on Thursday to cancel the planned release of its latest economic forecasts just one hour before publication.

"This will no longer go ahead as the Cabinet Secretary has concluded that this would not be consistent with the Cabinet Office's general election guidance,” the Office for Budget Responsibility said in a statement.

Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue