European stocks anticipated to have a subdued start following the European Central Bank's reduction.
- On Friday, European stocks were expected to open with little change, following a record high close in the previous session.
- The Stoxx 600 index in Europe finished on Thursday at 524.75 points, surpassing its previous record close on May 15, as per LSEG data.
- Despite nagging inflationary concerns, the European Central Bank cut interest rates for the first time since 2019 on Thursday, in a widely expected move.
European stocks were poised to remain unchanged on Friday, following a record high close in the previous session.
The European Central Bank lowered the key bank rate in the 20-nation euro zone to 3.75% from 4%, despite inflationary concerns, on Thursday.
The only major market in the green is the U.K., with IG data showing a 10-point increase.
Germany's score is 25 points lower, France's is set to slip 7 points, Italy's is down 55 points, and Spain's is 10 points lower.
The Stoxx 600 index closed at 524.75 points on Thursday, surpassing its previous record high on May 15, according to LSEG data.
In the region, Thursday marked a significant day for politics, as Europe-wide elections commenced. According to exit polls from the Netherlands, the left-wing parties secured a narrow victory, with eight seats for the Labour/Green Left coalition.
Despite winning the national election last year, the PVV failed to win any seats in the last EU election. However, closely behind was Geert Wilders' anti-immigration party, which is expected to win seven seats.
In the upcoming days, approximately 400 million individuals in the European Union will cast their votes for members of the European Parliament. The final polls will close on Sunday, and the preliminary results will be announced that evening.
On Friday, the performance of Asia-Pacific stocks was varied as investors evaluated the economic data from China and the payroll figures from Japan.
The three major averages in the U.S. stock futures remained relatively flat.
Markets
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