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European Stocks Rise Despite US Market Close Lower

  • 📰 NBCNewYork
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European Stocks,US Markets,Interest Rates

European stock markets opened higher on Thursday, with mining stocks leading the gains, despite a mixed performance in the US where markets closed lower amid concerns of an economic downturn.

was up 0.74% in opening trade, with all major bourses and virtually all sectors in the green. Mining stocks added 2.87% while telecoms were a rare outlier, down 0.94%.. The company jumped as much as 5.8% before paring gains slightly, after saying it was on track to make almost £1 billion in annual profits following an uptick inU.S. stocks initially jumped after the Fed announced a jumbo 50 basis point cut to interest rates, bringing its target range to 4.75% to 5.00%.

futures were seen lower overnight.Back in Europe, investor attention is now turning to the Bank of England, with the central bank largely expected to hold rates steady at 5%. The Fed's jumbo rate cut is unlikely to impact the Bank of England, according to"The U.K. is looking very much at its own economy. The fact that the U.S.

 

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