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European stocks are expected to open slightly higher on Thursday as investors await the European Central Bank (ECB) rate decision.
Any indication as to what ECB President Mario Draghi is planning after his pledge to do “whatever it takes” to save the euro would be welcomed by markets.
The FTSE 100 is expected to open 11 points higher at 5724, the DAX is predicted to open 19 points higher at 6773 and the CAC in Paris is expected to gain 13 points to 3334.
Draghi’s commentson Thursday last week sent stocks and risk assets sharply higher on hopes the ECB would take bold action to support Spain and Italy in the debt markets.
Since then, expectations of significant intervention at August’s meeting have lowered significantly with Reuters reporting no action will be taken until September at the earliest. The ECB interest rate decision is due at 1:45 pm GMT, and will be followed by a press conference from Draghi at 2:30 pm GMT.
On Wednesday, the Federal Reservesaid the U.S .economy may require further support but did not take any new measures.
In London the Bank of England’s Monetary Policy Committee will decide on whether to change interest rates. Economists polled by Reuters predicted the UK central bank will keep rates and its bond buying program on hold.
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