European stocks lose steam after European Central Bank cut

The pan-European Stoxx 600 ended Thursday at 524.75 points — just above its previous record close on May 15, according to LSEG data.

It comes after the European Central Bank cut interest rates for the first time since 2019 on Thursday, in a widely expected move, despite nagging inflationary concerns.was down 0.3% by 10:00 a.m. in London, paring earlier gains. All major bourses and most sectors traded in the red, with autos losing 1% while tech stocks added 0.6%.

Germany's economy was seen growing slightly more slowly than expected this year, while inflation is likely to tick up slightly, fresh data from the BundesbankThe pan-European benchmark ended Thursday at 524.75 points — just above its previous record close on May 15, according to LSEG data. It followed the European Central Bank's decision to cut interest rates for the first time since 2019 in a widely expected move, despiteThursday was also a big day for politics in the region, as Europe-wide elections got underway. Exit polls from the Netherlands indicate a narrow win by left-wing parties in the country, with eight seats for the Labour/Green Left combination.Closely behind was Geert Wilders' anti-immigration party, which looks set to have won seven seats.

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