9/19, 11:30 AM (Source: TeleTrader)
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European markets turn positive ahead of BoE decision

European markets recovered from losses earlier in the session on Thursday as investors awaited the interest rate decision from the Bank of England (BoE) due later in the day. The BoE is expected to hold rates amid uncertainty over the United Kingdom's scheduled departure from the European Union in October. Earlier, the United States Federal Reserve cut interest rates by 25 basis points to a range of 1.75%-2%, while the Bank of Japan kept rates unchanged.

The FTSE 100 rose 0.34% at 11:27 am CET. The best performer was IAG whose shares jumped 2.36% at 11:28 am CET.

The DAX increased by 0.31% at 11: 28 am CET with Merck, up 1.09%, and Deutsche Bank, up 1.05%, leading the gains.

The CAC 40 climbed 0.63% at 11:28 am CET. Societe Generale pushed the index higher, surging 2.73% at the same time.

The euro gained 0.28% against the dollar to sell for 1.10599 at 11:31 am CET and the pound was up by 0.06% compared to the US currency to go for 1.24804 at 11:32 am CET.

Breaking the News / NP