European stocks start higher but revenues seen limited
On Wednesday, European shares started higher, but revenues were expected to remain restricted as global growth worries as well as caution ahead of the ECB’s approaching monetary policy gathering weighed.
During European morning trade, the EURO STOXX 50 edged up 0.41%, French CAC 40 surged 0.35%, while German DAX 30 closed +0.45%.
Market participants remained quite cautious after the International Monetary Fund diminished its projection for global economic growth this year to about 3.1%, from the previous reading of 3.2%, although expecting a rebound to 3.4% next year.
Besides this ,investors were also focusing on the result of Thursday’s ECB gathering to see if policymakers will boost their easing measures to compensate the fallout from the Brexit vote.
Financial stocks revealed mixed performance, as BNP Paribas edged down 0.28%, Societe Generale slumped 0.10% in France. Meanwhile, German Commerzbank along with Deutsche Bank descended 0.37% and 0.70%, respectively.