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European stocks traded higher on Thursday ahead of the European Central Bank’s move as investors celebrated easing bond yields.
Up to six of the last eight sessions, the Stoxx Europe 600 SXXP,
edged up 0.2%.
The 10-year US Treasury yield TMUBMUSD10Y,
fell below 1.5% for the first time in a week after US consumer staples rose moderately in February, easing inflation fears that had recently worried traders. ECB President Christine Lagarde will further explain the central bank’s concern that rising bond yields could interfere with monetary policy, at a press conference following the policy decision.
“While we don’t expect the central bank to announce new measures, ECB President Christine Lagarde will adopt an accommodating tone, highlighting the flexibility inherent in her pandemic QE. [quantitative easing] program to purchase assets when needed, ”said economists from the TS Lombard research service.
ES00 American Equity Futures Contracts,
were stronger, especially the high-tech Nasdaq-100 NQ00,
which closed lower on Wednesday.
In Europe, technology stocks, including the ASML ASML microchip OEM,
Prosus PRX technology investor,
and microchip maker Infineon Technologies IFX,
Advanced.
Banks including HSBC HSBA,
and Barclays BARC,
traded lower as yields fell.
Read also: Eurozone banks show life after 15 difficult years. Will the ECB stifle the rally?
Rolls-Royce RR engine manufacturer,
increased by 1%. The struggling company, which reported an underlying loss of £ 4 billion in 2020, says it expects positive free cash flow in the second half of the year.
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