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Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

Europe close: Stocks end mostly higher as ECB and BoE stay put

(Sharecast News) - European shares were mostly higher on Thursday, even as policymakers at the European Central Bank and Bank of England pushed back on rate cut expectations. The pan-European Stoxx 600 index was up 0.87% to 476.57 with nearly all major bourses higher alongside.

Germany's Dax was the exception, drifting lower by 0.08% t 16,752.23.

In the US, the Dow Jones index was hitting fresh record highs a day after the Fed said it expected to cut rates three times next year - instead of twice - after holding its benchmark steady in a range of 5.25% to 5.5%.

The European Central Bank kept its deposit rate at 4.0%, as expected, but cautioned that domestic inflationary pressures remained elevated.

For its part, the Bank of England left rates unchanged at 5.25% as widely expected.

Yet BoE policymakers were split on the decision, with three members of its Monetary Policy Committee pushing for a 25 basis point rise to 5.5%, the same outcome as in November.

In equity news, AMS-Osram soared 13% after Jefferies upgraded the Austrian electronics company's stock to 'buy' from 'hold'.

Vivendi shares climbed 10% after the French media giant announced that it is considering breaking up into several listed entities.

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Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

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