European Markets Respond Positively to ECB's Latest Move

Following the European Central Bank's decision to cut interest rates by 25 basis points, major European stock markets experienced a notable uplift. Investors are closely analyzing the ECB's cautious economic outlook alongside a series of economic data releases from across the continent.

Economic Indicators Show Mixed Signals Across Europe

Recent data reveals a slowdown in UK annual house price growth to 4.1% in January, while German retail sales saw a 1.8% increase in December. Switzerland also reported a 2.6% rise in retail sales for the same period. France's inflation rate slightly increased, and markets are on the lookout for more data, including Germany's unemployment rate and consumer price report.

Stock Market Highlights

At 9:00 am CET, the French CAC 40 traded 0.12% higher, with STMicroelectronics up by 1.53%. The Euro Stoxx 50 increased by 0.26%, with Prosus NV advancing 1.40%. The British FTSE 100 gained 0.31%, as Next PLC climbed 2.07%, and the German DAX advanced by 0.23%, with Deutsche Bank jumping 1.32%.

Currency Movements

The euro and the pound sterling both traded flat against the dollar at 8:58 am CET, selling for $1.04051 and $1.24333, respectively.