European stocks opened the session with mixed results following Lagarde's pessimistic tone.
The main European stock indices opened on Friday with mixed performance, but the movements of the indices remained limited after the mixed signals from the comments made by European Central Bank Governor Christine Lagarde.
Although the European Central Bank lowered interest rates by 25 basis points yesterday, Lagarde indicated that while economic growth has weakened and is below expectations, inflation in service prices continues to weigh on inflation, which requires greater caution from the central bank in its upcoming moves.
At the same time, the Swiss National Bank lowered interest rates yesterday by 50 basis points, exceeding expectations of a smaller cut of 25 basis points, amid the strength of the Swiss franc and the progress made by the bank against inflation.
In terms of trading, the performance of the main European stock indices after the opening today was as follows:
- The general European stock index Euro Stoxx 600 decreased by 0.16% to record 518.47 points.
- The French CAC 40 index fell by 0.14% to 7,411.98 points.
- The German DAX index rose by 0.17% to record 20,461.52 points.
- The British FTSE 100 index increased by 0.15% to 8,325.65 points.
- The Italian FTSE MIB index remained stable at 34,882.15 points.
- The Spanish IBEX 35 index rose by 0.66% to record 11,842.30 points.