European stock markets open higher ahead of ECB rate hike meeting
European stock markets opened higher as investors await the European Central Bank’s (ECB) decision on its latest monetary policy moves.
The ECB is expected to frontload a series of jumbo rate hikes in order to curb inflation, with analysts saying a rate hike of 75 basis points is a possibility.
The pan-European Stoxx 600 rose 0.11 percent in the first hour of trading. Insurance, banks and basic resources made the biggest gains, as retail firms dropped 5.28 percent.
