European Shares Rally As Fed Cuts Rates, Signals More Easing In 2025
(RTTNews) - European stocks opened on a buoyant note Thursday after the U.S. Federal Reserve cut interest rates for the first time since December and indicated more cuts would follow amid mounting signs of labor market weakness.
Focus now shifts to the monetary policy announcement from the Bank of England (BoE) due later in the day.
The BoE is widely expected to hold its benchmark bank rate at 4.00 percent after a quarter-point reduction in August. The central bank releases monetary policy statement and minutes at 7.00 AM ET.
The pan-European STOXX 600 jumped 0.7 percent to 554.35 after ending marginally lower on Wednesday.
The German DAX rallied 1.2 percent, France's CAC 40 surged 1 percent and the U.K.'s FTSE 100 added 0.3 percent.
Britain's Domino's Pizza fell 1.1 percent after naming a new CFO.
Bytes Technology Group, which operates in IT solutions and services, rallied 2.2 percent after delivering a resilient performance in the first half.
Retailer Next Plc plummeted 5 percent after warning that sales will slow in the second half.
Engineering giant Renishaw surged 7.5 percent after it delivered record full-year revenue and stronger adjusted profit.
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