European stocks closed mixed Wednesday, as investors turned their attention to the European Central Bank’s (ECB) policymakers meeting to discuss interest rate decisions.
The European Stoxx 600 index was little changed, while German stocks outperformed their counterparts on the continent, with Commerzbank jumping 16 percent after Italy’s UniCredit bought a 9 percent stake in the German bank.
A 3.8 percent rise in ASML Holding led to a rise in the technology sector, but a 0.8 percent decline in the real estate sector curbed gains.
In turn, the basic resources sector provided some support, rising 0.4 percent as copper prices rose thanks to a weaker dollar.
The British Financial Times 100 index fell 0.2 percent, while the French CAC index fell by about 15 percent to reach 7,396 points.
Investors expect the European Central Bank (ECB) to cut deposit rates to 3.5% from 3.75% at its meeting on Thursday, after keeping them steady at its July meeting and cutting them in June for the first time since the start of
the latest monetary tightening cycle.
Source: Qatar News Agency