European markets rally ahead of ECB, BoE interest rate decisions
European equity markets opened higher on Thursday as investors are focused on the latest monetary policy decisions from the European Central Bank and Bank of England, due to be released today. The decisions will come a day after the US central bank lifted its key interest rate by 25 basis points.
Before the opening, Deutsche Bank reported better-than-expected fourth-quarter earnings leading to a third consecutive year of profit. On the other hand, Banco Santander posted a record profit of €9.6 billion in 2022, and Shell announced a record $40 billion profit for the same year.
At 9:01 am CET, the CAC 40 added 0.47%, while Publicis Groupe improved by 5.83%. Meanwhile, across the English Channel, the FTSE 100 rose 0.22%, as Segro increased by 2.00%. The pan-European Euro Stoxx 50 advanced by 0.63%, with Adyen up by 3.87%. At 9:05 am CET, the German DAX gained 0.62%, with Zalando SE rising by 3.00%.
The euro and the British pound were flat at 8:58 am CET selling for $1.09934 and $1.23734, respectively.