Investment accounts
Adult accounts
Child accounts
Choosing Fidelity
Choosing Fidelity
Why invest with us Current offers Fees and charges Open an account Transfer investments
Financial advice & support
Fidelity’s Services
Fidelity’s Services
Financial advice Retirement Wealth Management Investor Centre (London) Bereavement
Guidance and tools
Guidance and tools
Choosing investments Choosing accounts ISA calculator Retirement calculators
Share dealing
Choose your shares
Tools and information
Tools and information
Share prices and markets Chart and compare shares Stock market news Shareholder perks IPOs and placings
Pensions & retirement
Pensions, tax & tools
Saving for retirement
Approaching / In retirement
Approaching / In retirement
Speak to a specialist Creating a retirement plan Taking tax-free cash Pension drawdown Annuities Investing in retirement Investment Pathways
Europe open: Stocks track losses on Wall Street, ECB in focus
(Sharecast News) - Stocks were under pressure early in the session, tracking overnight losses on Wall Street triggered by a move back higher in longer-term US government debt yields and news of a brief Israeli military incursion into Gaza. Nevertheless, investors' focus on Thursday would be on the European Central Bank's policy decision.
As of 0832 BST the pan-European Stoxx 600 was dropping by 1.13% to 430.24, alongside a 1.43% decline for the German Dax to 14,677.89 while Italy's FTSE Mib was down by 1.24% to 27,087.65.
"Is the ECB done hiking? The decision to hike rates back in September to a record high of 4.5% was somewhat of a surprise given some of the narrative that had been coming from ECB President Christine Lagarde in the lead-up to the decision," said Michael Hewson, chief market analyst at CMC Markets UK.
"It has also become apparent that there are clear divisions on the governing council on the future path of monetary policy with the northern part of the euro area, and specifically Germany keen to keep the pressure on, lest inflation run higher despite the recent sharp falls in the headline rate."
The yield on the benchmark 10-year German Bund was edging up by two basis points to 2.901%, having earlier touched 2.937%.
Euro/dollar was off by 0.22% at 1.0546.
The ECB announcement was due at 1315 BST and President Christine Lagarde's press conference was scheduled for 1345 BST.
The day before Lagarde told Greek broadcaster Antenna TV that "we are not done yet", even as she expressed confidence that "we are on a journey to return inflation to 2%".
Rate-setters were monitoring the war between Israel and Hamas, she added.
September forecasts from the ECB for inflation to return to the 2% target in 2025 were premised on a price for Brent oil of $82.7 a barrel in 2023 and of $77.9 in 2025.
Investors were also waiting on weekly US jobless claims figures and a preliminary estimate on third quarter US GDP growth that were to be published at 1330 BST.
Share this article
Related Sharecast Articles
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.
Award-winning online share dealing
Search, compare and select from thousands of shares.
Expert insights into investing your money
Our team of experts explore the world of share dealing.
Policies and important information
Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity and Inclusion | Doing Business with Fidelity | Fidelity gender pay report | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Security | Statutory and Regulatory disclosures | Whistleblowing policy
Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document which contains important information about the fund.
This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.