European Markets React to ECB's Latest Move

Following the European Central Bank's decision to cut interest rates by 25 basis points, major European stock markets opened higher on Friday. Investors are closely monitoring the impact of this decision alongside a cautious economic outlook presented by the ECB.

Economic Indicators in Focus

Economic data from across Europe is also drawing attention. The UK has reported a slowdown in annual house price growth to 4.1% in January, while Germany saw a 1.8% increase in retail sales for December. Switzerland's retail sales also rose by 2.6%, and France reported a slight increase in inflation, moving from 1.3% to 1.4% in January.

Market Movements and Currency Stability

At 9:00 am CET, the French CAC 40 was up by 0.12%, with STMicroelectronics leading the gains at 1.53%. The Euro Stoxx 50 increased by 0.26%, and the British FTSE 100 gained 0.31%, with Next PLC climbing 2.07%. The German DAX advanced by 0.23%, with Deutsche Bank jumping 1.32%. Meanwhile, the euro and the pound sterling remained stable against the dollar, trading at $1.04051 and $1.24333, respectively, at 8:58 am CET.