European stock markets open higher

European stock markets began the day with gains, excluding Germany. Following the opening, the Stoxx Europe 600 benchmark index is trading at 481 points with a 0.5 percent increase, while Germany's DAX 40 index is trading at 16,868 points, down 0.2 percent.

In the UK, the FTSE 100 index is at 7,585 points with a 0.7 percent gain, the MIB 30 index in Italy is at 30,172 points with a 0.1 percent gain, the IBEX 35 index in Spain is at 9,924 points with a 0.1 percent rise, and the CAC 40 index in France is at 7,568 points with a 1.4 percent gain.

The euro/dollar parity is currently trading at 1.0830, down 0.1 percent from the previous close.

Yesterday, the European Central Bank (ECB) kept all three key policy rates unchanged.

"TOO EARLY TO DISCUSS RATE CUTS"

ECB President Christine Lagarde stated in her post-meeting remarks that there is a consensus within the ECB's Governing Council that it is "premature" to discuss interest rate cuts.

Expressing that short-term economic indicators remain weak, Lagarde emphasized that an improvement in the economy is expected in the medium term and that the labor market, which is the most significant reflection of the economy, continues to remain quite strong.

Noting that the general downward trend in inflation rates in the Eurozone continues, Lagarde explained that the restrictive monetary policy continues to have a comprehensive impact on the real economy.

Analysts stated that global equity markets are following a mixed course following the signals received from announced macroeconomic data and corporate financial results.

Stating that despite the slowdown in inflation in the US, positive signals from economic activity have increased the likelihood of a "soft landing" for the economy, analysts noted that expectations in money market pricing that the US Federal Reserve (Fed) could begin interest rate cuts in March have gained strength again.

According to data released today, the GfK consumer confidence index in Germany for February came in at -29.7.

Analysts said that personal income and expenditure data in the US will be in focus today.

News Source: 12punto