European shares started off on a positive note on Thursday, as technology and construction stocks led the way. The pan-European STOXX 600 index rose by 0.3%, with a 0.7% increase in technology shares and a 1.2% jump in construction and materials stocks.
Investor confidence in these sectors was reflected in the morning rally, as ASMI shares surged by 4.1% after receiving a positive upgrade from Morgan Stanley. Despite this, Danone’s shares dipped by 2.9% despite announcing ambitious sales growth targets. Tate & Lyle saw a 6.5% drop following its announcement to purchase US-based CP Kelco.
Mixed reactions were seen across Europe, with modest gains in the UK’s FTSE 100 and a slight dip in Switzerland’s benchmark index. Central banks in England, Switzerland, and Norway are set to announce interest rate decisions later today, which could significantly impact market dynamics and investor strategies across Europe.
Investors are closely monitoring these decisions for insights into the overall economic direction of Europe, especially given the current inflationary environment that makes interest rate decisions crucial indicators for future investment flows and economic stability across the region.
