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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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