European stock markets fell on Thursday.
This followed central bank updates from the UK and US.The Bank of England (BoE) kept interest rates steady, diverging from the Federal Reserves (Fed) position.Fed Chair Jerome Powell had said a March rate cut in the US would be too soon, affecting US markets on Wednesday.In London, the FTSE index slightly declined by 0.11%, closing at 7,622.16 points, after the BoEs decision.The central banks rate remains at 5.25%, reflecting varied policy views among its officials.Central Banks Impact European Markets.
(Photo Internet reproduction)Paris saw a notable drop, with the CAC-40 index down by 0.89% to 7,588.75 points.BNP Paribas shares fell sharply by 9.21% after reporting a profit halved from the previous year, putting pressure on the market.In Frankfurt, the DAX index decreased by 0.26%, closing at 16,859.04 points.However, Deutsche Banks shares rose by 4.94% as it announced job cuts and dividends, signaling a recovery path.INGs shares dropped by 6.44% on the Euronext after a profit report that, despite beating analyst expectations, projected weaker 2024 revenues.Shells shares in London increased by 2.41%, with the company reporting higher-than-expected profits for Q4 2023, reflecting strong performance.Other European markets, including Milans FTSE MIB, Madrids Ibex-35, and Lisbons PSI-20, also experienced declines.Central bank decisions and corporate earnings shape European markets, revealing the intricate links between monetary policy, performance, and stock trends.