Europe open: Stoxx up as tariffs take back seat to BoE rate call
By Frank Prenesti
Date: Thursday 06 Feb 2025
(Sharecast News) - European shares opened in positive territory, eyeing fresh records on Thursday as investors took a day off from tariff tribulations and turned their attention to a widely expected rate cut by the Bank of England.
The pan-regional Stoxx 600 was up 0.49% at 541.22, just below the record of 542. Germany's DAX was up 0.72% and France's CAC-40 0.25% amid another swathe of corporate earnings.
The BoE is widely expected to cut interest rates by quarter-point to 4.5% amid worries over weak economic growth and the threat of tariffs from US President Donald Trump.
Sentiment was also boosted by a better-than-expected ADP report that showed that the US economy added 183,000 new private jobs in January, easily beating the 148,000 pencilled in by analysts. Services and composite survey data by S&P also indicated business activity was accelerating last month.
In equity news, Maersk surged as the Danish shipping giant beat fourth-quarter earnings forecasts but warned of weaker earnings in 2025 due to geopolitical worries.
Compatriot Carlsberg gained despite missing sales forecasts and pointing to lower growth in 2025.
Societe Generale jumped after well received results.
Reporting by Frank Prenesti for Sharecast.com
Email this article to a friend
or share it with one of these popular networks:
You are here: news
10 Lower Thames St,
London EC3R 6EN