European shares rise after the European Central Bank maintains interest rates at 4%.
The Stoxx Europe 600 closes 0.3% higher, the FTSE 100 trades unchanged, and the DAX and CAC 40 edge up 0.1%, while the Dow also climbs 0.3%. Brent crude increases by 1.9% to $81.14 per barrel, lifting oil shares.
Nokia rallies 11% after the Finnish telecoms group reported better-than-expected margin trends.
Eurozone inflation needs to slow more before ECB policymakers are willing to discuss rate cuts, Rabobank says. “All in all, we see today’s press conference as a necessary first step towards a rate cut, but we don’t think it was as dovish as the market is pricing,” Rabobank senior macro strategist Bas van Geffen writes.
JPMorgan European Discovery Trust plc (LON:JEDT) is an investment trust company. The Investment Trust JEDT objective is to achieve capital growth from a portfolio of quoted smaller companies in Europe, excluding the United Kingdom.
