European Stocks Remain Steady
European stocks were steady on the last trading day before the Easter holiday, as investors weighed the impact of central bank policies on the markets. The Stoxx Europe 600 Index was little changed, while the U.K.’s FTSE 100 Index and Germany’s DAX Index both rose slightly.
Central Bank Policies in Focus
The European Central Bank (ECB) is expected to keep its monetary policy unchanged at its meeting later this month. The ECB has been providing stimulus to the economy since the start of the pandemic, and is expected to continue to do so until the recovery is firmly established.
Meanwhile, the Bank of England (BoE) is expected to keep its policy rate unchanged at its meeting this week. The BoE has been providing stimulus to the economy since the start of the pandemic, and is expected to continue to do so until the recovery is firmly established.
European Sectors React Differently
The sectors reacted differently to the news. Banks were the biggest gainers, with the Stoxx Europe 600 Banks Index rising 0.7%. The index has been on a steady upward trend since the start of the year, as investors have been betting on a recovery in the sector.
Meanwhile, the Stoxx Europe 600 Technology Index was down 0.3%, as investors took profits after a strong rally in the sector in recent weeks. The index has been on a steady upward trend since the start of the year, as investors have been betting on a recovery in the sector.
Oil Prices Rise
Oil prices rose on the news, with Brent crude up 0.7% to $67.45 a barrel. The rise was driven by expectations of a recovery in demand as the global economy recovers from the pandemic.
Currency Markets
In the currency markets, the euro was little changed against the dollar, trading at 1.19. The pound was also little changed, trading at 1.37 against the dollar.
Outlook
The outlook for European stocks remains uncertain, as investors weigh the impact of central bank policies on the markets. The ECB is expected to keep its policy rate unchanged at its meeting later this month, while the BoE is expected to keep its policy rate unchanged at its meeting this week.
Oil prices have been rising on the back of expectations of a recovery in demand, while the euro and the pound have been little changed against the dollar.
Overall, European stocks are likely to remain range-bound in the near term, as investors wait for more clarity on the outlook for the global economy.