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European stock backlash over Federal Reserve bailouts. The BoE decision was awaited

As is widely expected, European equities rose Thursday and bond yields fell after the Federal Reserve raised interest rates by 50 basis points, but inflation “flattened” in the coming months. It wasn’t as scary as some people were.

The Bank of England’s monetary policy announcement is scheduled for ET at 7am. Central banks are widely expected to raise their key interest rates from 0.75 percent to 1 percent by 25 basis points.

The Pan-Europe Stoxx600 rose more than 1% at 445.88 after falling 1.1% in the previous session.

Germany’s DAX rose 1.4%, France’s CAC 40 index rose 1.5%, and the UK’s FTSE 100 rose 0.8%.

Steel giant ArcelorMittal surged almost 3% after first-quarter net income exceeded 80%.

Wind turbine maker Siemens GAMESA fell 1.5% after expanding its quarterly losses.

Shell Plc’s share price rose 3% after energy giants announced a 26% surge in net profit in the first quarter.

Barat Development added 1.4%. Homebuilders said they expect full-year results in line with the Board’s expectations.

BAE Systems fell by more than 2%. The defense aerospace company said its first-quarter results were in line with expectations.

Next Plc increased by about 1%. Clothing, shoe and household goods retailers maintained year-round profit guidance.

Air France-KLM increased 2% after Franco-Netherlands airlines expected to reduce their net loss in the first quarter and report operating profit at the break-even point in the second quarter.

Lender Crédit Agricole Group fell 3% after a significant decline in first-quarter profits.

Peer Societe Generale rose 1.7% after reporting improved first-quarter earnings, supported by all business areas.

German biopharmacy company MorphoSys AG surged 5.4% despite recording a loss in the first quarter.

Automaker BMW rose 2.4% after supporting the 2010 outlook.

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European stock backlash over Federal Reserve bailouts. The BoE decision was awaited

Source link European stock backlash over Federal Reserve bailouts. The BoE decision was awaited

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