London — As U.K. investors anticipated the Bank of England’s policy rate announcement, European equities opened higher on Thursday morning.
Around 10:40 a.m. London time, the pan-European Stoxx 600 increased by roughly 0.5%, with the majority of sectors and significant bourses showing positive gains. Food and beverage stocks fell 0.7%, while IT and construction firms led the gains, rising by more than 1% each.
As expected by two-thirds of Reuters’s polled economists, the Swiss National Bank announced on Thursday that it is cutting its policy rate by 0.25 percentage points to 1.25%. With this decision, which comes after a similar one in March, the SNB continues to lead the global policy easing cycle.
Source (CNBC)
