(Bloomberg) — European stocks rose on a busy day for earnings after the region’s central bank kept interest rates on hold for a third straight meeting and the US economy’s fourth-quarter growth proved stronger than expected.
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The Stoxx Europe 600 edged 0.3% higher at the close in London. Technology stocks outperformed while automotive shares lagged behind.
The European Central Bank left the deposit rate at a record-high 4% — as predicted by all economists surveyed by Bloomberg. President Christine Lagarde’s muted affirmation that the European Central Bank may begin lowering interest rates from around mid-2024 was taken by markets as a sign that earlier moves are very much in play.
“Consumer prices have barely risen in recent months,” said Guillermo Hernandez Sampere, head of trading at asset manager MPPM. “However, the ECB has to keep an eye on wage developments in order not to lower interest rates…
