Europe's leading stock indexes showed a steady increase on Thursday, in anticipation of the European Central Bank's decision on monetary policy.
At one point, the French CAC 40 jumped by 0.41% to 6568.8 points, the German DAX gained 0.27%, rising to 14112.89 points. At the same time, the UK FTSE 100 lost 0.22% to 7563.8.
The value of securities of the Swedish manufacturer of telecommunications equipment Ericsson collapsed by more than 8% on the news about the reduction of the company's profit in the first quarter of the financial year. In addition, Ericsson's management warned of further losses in connection with the withdrawal from the Russian market.
Shares of French media group Publicis rose 1.2% after the company reported first-quarter financial results that beat market analysts' forecasts.
French luxury goods maker Hermes rose 2.3%. In the first quarter, the group of companies took advantage of the ever-increasing demand for its accessories in the US and Europe.
The capitalization of the British retailer of furniture for the home Dunelm increased by 2.5% after reporting a significant increase in sales in the third quarter. The company's stores opened after the lifting of restrictions related to the COVID-19 epidemic.
The focus of market participants on Thursday is the forthcoming results of the ECB meeting, whose representatives will meet to determine the further course of monetary policy in the face of record inflation growth. Most analysts assume that the central bank will increase the discount rate following the US Federal Reserve and other central banks. However, some experts are confident that as economic disputes with Russia approach, the ECB will leave the rate unchanged, but confirm the planned reduction in the asset buyback program.
An important upward factor for European stock indices on Thursday was the confident rise of the leading US indicators against the backdrop of falling US government bond yields.
By the way, the key European stock indices did not show a single trend at the end of trading on Wednesday. The indecision of investors was associated with the upcoming ECB meeting and its results.
So, ahead of the meeting, the British FTSE 100 gained 0.05%, stopping at 7580.8 points, the French CAC 40 rose by 0.07% to 6542.14 points, and the German DAX sank 0.34% to 14076.44.