European stocks little changed, ECB eyed

By FXstreet.com | August 07, 2014 AAA

FXStreet (Córdoba) - European stocks were little changed Thursday after a negative opening as ongoing tensions with Russia weighed on sentiment while investors await the ECB monetary policy decision.

The Stoxx Europe 600 was up 0.10% at 329.52. As for country-specific indexes Germany’s DAX 30 rose 0.14% while the France’s CAC 40 was nearly flat. The UK FTSE 100 fell 0.11%. Meanwhile, Italy’s FTSE MIB was the top performer up 0.84% while Spanish Ibex 35 was barely changed.

Asian and European stocks are attempting to trim weekly losses after Wall Street stocks staged an impressive comeback and closed with slight gains Wednesday.

On the data front, German industrial production came in below expectations but the main focus will be the Bank of England and European Central Bank decisions. Both banks are expected to keep rates on hold today. During the New York session, the US will release jobless claims data.

In the FX space, the USD trades a tad firmer after yesterday’s pullback seen during the second half of the NY session.

As for commodities, gold dropped 0.25% to $1,305 an ounce, while crude oil slid 0.10% to $96.83 a barrel.

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