Tuesday, 15 Sep 2020 04:51 PM MYT
LONDON, Sept 15 — European stocks struggled for direction today, with banking shares declining ahead of the US and UK central bank meetings this week, while Sweden’s H&M surged after reporting a better-than-expected profit. “It would be of no surprise if an expectedly uber-dovish FOMC re-energised the buy everything FOMO trade to some degree,” wrote Jeffrey Halley, senior market analyst at Oanda.The Bank of England is also set to meet on Thursday, and likely to signal that it is getting ready to pump more stimulus into Britain’s coronavirus-hit economy.
Meanwhile, a paper seen by Reuters showed France and Germany have called on the European Union to ease bank capital and bonus rules to avoid crimping the flow of credit to an economy trying to recover from the coronavirus crisis.