European Indexes Post Modest Losses

Markets eyed a tightening by the Bank of England and awaited the ECB's rate decision

London: The FTSE 100 pares losses but stays just below the gain line Thursday as the Bank of England hike rates as expected by 25bp to 5.75%. The pound moves up to US$2.0178. The ECB is expected to give its rate verdict later, but is seen leaving rates unchanged at 4.00%. WTI trades at US$71.87/bbl amid low fuel inventories and expectations of strong gasoline demand in the US. Wall Street is seen opening in positive territory after yesterday's Independence Day holiday.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.