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European shares are seen opening higher Thursday with the European Central Bank’s interest rate decision a major focus for markets.
Broad consensus expects no change to interest rates for the euro zone or any new policy decisions.
The FTSE 100 is seen opening higher by 15 points, Germany’s DAX up by 30 points and the CAC 40 higher by 13 points at the start of trading.
All eyes will be on Spain as Barcelona hosts the ECB for its meeting, and the country auctions up to 3 billion euros of 3- and 5-year bonds.
Indications suggest a rise in the beleaguered country’s borrowing costs.
Local elections take place across the UK, with mayoral elections taking place in London, where Conservative party candidate and incumbent mayor Boris Johnson is fighting to retain his position.
Early indications suggest it will be a tightly fought battle with rival Labour Party candidate Ken Livingstone.
Tensions between the UK and the EU took a turn for the worse following discussions on tightening bank rules with UK Finance Minister George Osborne claiming the rules favor European banks to London’s disadvantage.
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