European stocks rose on Thursday after the ECB cut interest rates for the eighth time in a year. The ECB lowered borrowing costs by 25 basis points and revised down its inflation forecasts for 2025 and 2026.
While the rate cut was largely priced in, the sharper-than-expected downward revision to the 2026 inflation outlook caught some market participants by surprise. ECB President Lagarde acknowledged that the inflation outlook remains more uncertain than usual. Also supporting sentiment was news of a phone call between U.S. President Trump and Chinese President Xi, which indicated progress in trade talks.
In economic news, German factory orders unexpectedly rose in April, defying expectations for a decline. On the corporate front, shares of British fintech firm Wise jumped 7.1% after reporting full-year earnings and announcing plans to move its primary listing from London to New York, a move that highlights ongoing concerns about the attractiveness of the U.K. stock market. (alg)
Source: Trading Economics
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