Europe opens higher prior to ECB's rate decision

Thursday, 21. January 2021 09:01

Major European stock markets opened in the positive territory on Thursday a day after Joe Biden officially became the next president of the United States. As his first move, Biden signed a series of executive orders to reverse policies created by the Trump administration.

Meanwhile, investors were focused on the upcoming economic data reports. The European Central Bank is set to announce its latest policy decision on key interest rates, with the expectations suggesting they will be left unchanged. Later today, the European Commission will release the preliminary Consumer Confidence report for January, in which a further drop is supposed to be registered.

The DAX rose 0.60% at the opening bell, with Daimler AG advancing 1.45%. The FTSE 100 climbed 0.46%, as HSBC Holdings PLC surged 2.27%. The CAC 40 rose 0.57%. Renault was the top performer, increasing by 1.59%. The euro gained 0.14% against the dollar to sell for 1.21234 at 9:02 am CET, while the pound traded 0.31% higher to $1.36006.

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Breaking the News / ND