09 May 2024, 14:07

European stocks open higher before BoE decision

LONDON, May 9, 2024 (BSS/AFP) - European stock markets advanced at the start of trade on Thursday with London close to a record high before a Bank of England decision on interest rates.

London's FTSE 100 index rose almost 0.1 percent to stand at 8,369.93 points, ahead of a BoE rate call at 1100 GMT. 

In the eurozone, Frankfurt's DAX index won 0.3 percent to 18,559.57 and the Paris CAC 40 index was marginally higher at 8,134.18 points.

The British central bank was set Thursday to keep its main interest rate at a 16-year high, resisting a cut as UK inflation cools at a slower pace than forecast.

The BoE is widely expected to maintain borrowing costs at 5.25 percent for a sixth meeting in a row, mirroring a wait-and-see approach by the US Federal Reserve and European Central Bank.

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