This is CNBC’s live blog covering European markets.
European markets were set to open higher Thursday as investors await key earnings, economic data and the European Central Bank’s latest monetary policy decision.
The U.K.’s FTSE 100 index is expected to open 2 points lower at 8,555, Germany’s DAX up 24 points at 21,649, France’s CAC up 25 points at 7,892 and Italy’s FTSE MIB up 72 points at 36,627, according to data from IG.
The ECB is expected to kick off its first meeting of 2025 with a 25-basis-point interest rate cut Thursday. The move would bring its key overnight deposit facility rate to 2.75%, marking its fifth cut since the bank began easing monetary policy last June.
Market watchers expect further easing this year despite euro zone inflation ticking upwards over the past few months; activity in the single currency area’s manufacturing and services sectors remains broadly subdued and consumer confidence is below its long-term average, European Commission data shows.
Against this backdrop, investors will be closely watching the latest growth data from France, Germany and the euro zone on Thursday, as well as euro zone unemployment, economic sentiment and consumer confidence figures.
On the earnings front, Nokia, ABB, Roche, H&M, Shell, BT Group, Sage Group, Wizz Air, Electrolux, BBVA, Caixabank, Nordea and Sanofi are all due to report Thursday.
German lender Deutsche Bank kicked off the announcements by reporting a sharper-than-expected fall in fourth-quarter profit.
Overnight in the Asia-Pacific region, Australian and Japanese stocks extended gains from the previous session. Taiwan, South Korea, Hong Kong and China markets are closed for Lunar New Year holidays.
Meanwhile, U.S. stock futures rose Wednesday night as Wall Street digested recent quarterly results from several megacap tech companies, and the Federal Reserve’s decision to hold steady on rates.
Deutsche Bank posts steeper-than-expected Q4 profit fall
Germany’s largest lender Deutsche Bank on Thursday reported weaker-than-expected profit that fell sharply in the last three months of 2024, as legal provisions weighed on the bottom line.
Net profit attributable to shareholders hit 106 million euros ($110.4 million) in the fourth quarter, compared with the 282.39 million euros forecast in a LSEG poll of analysts. The result marked a significant fall from the 1.461 billion euros achieved in the third quarter.
Revenue reached 7.224 million euros in the fourth quarter, versus a LSEG analyst poll of 7.125 billion euros — but was eroded by litigation costs over the period to the tune of 594 million euros.
— Ruxandra Iordache
European markets: Here are the opening calls
European markets are expected to open higher Thursday with investors keeping a close eye on the latest monetary policy decision from the European Central Bank.
The U.K.’s FTSE 100 index is expected to open 2 points lower at 8,555, Germany’s DAX up 24 points at 21,649, France’s CAC up 25 points at 7,892 and Italy’s FTSE MIB up 72 points at 36,627, according to data from IG.
Close market attention will also be on the latest growth data from France, Germany and the euro zone on Thursday, as well euro zone unemployment, economic sentiment and consumer confidence figures.
Earnings come from Nokia, ABB, Roche, Deutsche Bank, H&M, Shell, BT Group, Sage Group, Wizz Air, Electrolux, BBVA, Caixabank, Nordea and Sanofi.
— Holly Ellyatt
