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European shares open higher, ECB rate verdict on tap
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European shares open higher, ECB rate verdict on tap
Jul 18, 2024 12:42 AM

(For a Reuters live blog on U.S., UK and European stock

markets, click or type LIVE/ in a news window)

July 18 (Reuters) - European shares opened higher on

Thursday led by energy stocks, while investors also awaited the

European Central Bank's interest rate decision, due later in the

day.

The continent-wide STOXX 600 was 0.2% higher at

0711 GMT and was on track to snap a three-session losing streak.

Oil and gas boosted the benchmark index with a 1% rise,

as the sector tracked higher crude prices.

The ECB's interest rate decision is due at 1215 GMT, where

the central bank is expected to keep interest rates unchanged

while signalling that its next move is still set to be a cut,

even if this guidance is likely to be vague and carry caveats.

Among individual stocks, Publicis jumped 7.7%, as

the French advertising group upgraded its organic growth

guidance after beating expectations for the second quarter.

Essity jumped 5.7% after the Swedish hygiene

products maker reported second-quarter core earnings above

expectations.

ABB lost 5.8% after the Swiss engineering group

reported a slightly better-than-expected second-quarter profit,

in the final set of numbers under departing Chief Executive

Bjorn Rosengren.

Finnish telecom equipment maker Nokia shed 8.8%

after reporting a 32% decline in quarterly profit.

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