European Stocks Slip Ahead of ECB, BOE Meetings

By Amwal Al Ghad English On Nov 7, 2013

European stock markets moved mostly lower at the open on Thursday, as investors awaited the latest policy decisions from the European Central Bank and the Bank of England. The ECB has left monetary policy unchanged over past meetings, but after a weak inflation reading for October, investors raised expectations for a rate cut either at Thursday’s meeting or in December.

The Stoxx Europe 600 indexXX:SXXP -0.08% fell 0.1% to 322.92, after gaining 0.4% on Wednesday. Shares of Commerzbank AG DE:CBK +7.70% rallied 8.3% after the German bank reported a stronger-than-forecast third-quarter profit.

HeidelbergCement AG DE:HEI -4.85% lost 4.1% after the company said currency effects are weighing on operating income. Among country-specific indexes, Germany’s DAX 30 index DX:DAX +0.06% was marginally higher at 9,042.71. France’s CAC 40 index FR:PX1 -0.05% was little changed at 4,286.53, while the U.K.’s FTSE 100 index UK:UKX -0.22% slipped 0.2% to 6,728.20.

Source: MarketWatch

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