Array
European stock markets rose Thursday as the European Central Bank cut interest rates for the first time since 2019 — but gains were muted as sticky inflation blurs the outlook for more reductions.
Wall Street stocks meanwhile were little changed, after hitting fresh records a day prior as leading chip-maker Nvidia’s market capitalization topped $3 trillion.
Paris, Frankfurt, and London all closed in the green after the ECB lowered its key deposit rate by a quarter point to 3.75 percent, though eurozone markets dialed back earlier gains as the bank warned the outlook for rate cuts was uncertain.
The euro firmed against the dollar.
