European markets close higher as ECB keeps policy unchanged
European stocks closed higher on Thursday as traders digested the European Central Bank’s latest monetary policy decision.
The pan-European Stoxx 600 ended the session up by 0.7%, with the utilities sector jumping 2.2% to lead gains while insurance shares dropped 0.3%.
The European Central Bank kept its monetary policy unchanged on Thursday as traders looked for clues on when its massive monetary stimulus might start to be wound down.
“Preserving favorable financing conditions over the pandemic period remains essential to reduce uncertainty and bolster confidence, thereby underpinning economic activity and safeguarding medium-term price stability,” ECB President Christine Lagarde said at a press conference on Thursday.
Reference: CNBC
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