Megacap and growth stocks mixed - Nvidia down 1.7% while Microsoft gained 1.4%
European equities were steady as the European Central Bank delivered its expected quarter-point interest rate cut at its last meeting of the ye–ar. The Stoxx Europe 600 Index was little changed at the close in London with miners and retailers falling the most, and the autos sector posting the biggest gains. Wall Street’s main indexes inched lower.The Iseq overall index was up 0.39 per cent on Thursday, finishing at a price of €9815. Ryanair rose 2.46 per cent to €19.75.
Precious metal miners led the sectoral losses, falling 2.9 per cent, after gold prices edged down after hitting its highest since November 6th earlier in the session, as investors awaited US PPI data for signals on the Federal Reserve’s interest rate outlook. In Frankfurt, the Dax moved 0.13 per cent higher, and in Paris, the Cac 40 was down 0.03 per cent. The euro dropped against the dollar after the ECB cut.
Meanwhile, data showed US producer prices rose more than expected in November but a moderation in the costs of services offered hope that the disinflationary trend remains in place, while the number of Americans filing new applications for unemployment benefits rose unexpectedly last week.
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