Rate-cut lovers steady the STOXX
STOXX 600 up 0.1%
Utilities, real estate lead
Nasdaq futures edge up
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RATE-CUT LOVERS STEADY THE STOXX
Gains in sectors that benefit from falling borrowing costs helped European shares steady in early trading on Thursday, tentatively halting a two-day selloff triggered by fresh concerns about the U.S. economy and cooling labour markets.
As traders geared up for a possible second rate cut by the European Central Bank at its policy meeting next week, utilities .SX6P rose 1% to their highest since May 2023 and real estate .SX86P stretched to an over two-year high, up 0.9%.
Among utilities, wind turbine maker Orsted ORSTED.CO surged 4% to the top of the region wide STOXX .STOXX index.
Banks .SX7P were in demand too. Tech .SX8P continued to lag, although the intensity of this week's declines appeared to eased. ASML ASML.AS however fell another 1% on the day.
Here is your opening snapshot:
(Danilo Masoni)
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EARLIER ON LIVE MARKETS:
EUROPEAN STOCK FUTURES EASE CLICK HERE
MARKETS HIT TENTATIVE PAUSE ON SELLOFF CLICK HERE
Eu open https://tmsnrt.rs/3MwdUYz
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