European stocks moves lower amid trade uncertainty, ECB decision eminent

European shares edged lower Thursday morning ahead of a European Central Bank rate decision.

The pan-European Stoxx 600 was down by 0.3 percent with almost every sector in the red. Autos and basic resources fell more than 1 percent. Investors are taking a cautious approach as they wait for further details on a possible trade agreement between China and the U.S.

Looking at individual stocks, JC Decaux was among the out-performers, up by about 5 percent. The company reported a net profit increase in 2018 and decided to pay a higher dividend.

Lufthansa jumped 2 percent on the back of a ratings upgrade by Citi.

Hugo Boss fell more than 1 percent in early trade. The retailer said Thursday that it expects its operating profit to increase faster than sales in 2019, Reuters reported.

In Europe, investors are waiting to hear from ECB President Mario Draghi. The European Central Bank is holding a monetary policy meeting later Thursday. And President Draghi will address the press at 1.30 p.m. London time.

There is also strong focus on politics. The Italian government said it is looking to join the Chinese Belt and Road initiative and the future of Brexit is still uncertain. European officials have urged the U.K. government to table fresh proposals within the next 48 hours to break the Brexit impasse ahead of critical votes next week in London.

source: CNBC