European markets close slightly higher as investors react to earnings; Adidas down 5%
European markets closed slightly higher on Thursday as investors digested corporate earnings and a key monetary policy decision from the Bank of England.
The pan-European Stoxx 600 provisionally ended 0.4% higher, with travel and leisure stocks adding 1.3% while mining stocks dropped 2.6%.
Back in Europe, the Bank of England left its monetary policy unchanged on Thursday but warned of more pronounced inflation in the near term.
Policymakers voted unanimously to keep the Bank’s main lending rate at a historic low of 0.1%, where it has been since March 2020, and split the vote 7-1 in favor of maintaining the quantitative easing program at £895 billion ($1.25 trillion).
The central bank also raised its inflation forecasts, which was expected by economists.
On the data front, final PMI (purchasing managers’ index) readings on Wednesday showed euro zone business activity surging in July to its fastest expansion in 15 years.
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