European stocks higher rate calls in focus


(MENAFN- AFP) European stock markets rose on Thursday as investors looked beyond the crisis in Ukraine to key interest rate decisions of the European Central Bank and the Bank of England.London's benchmark FTSE 100 index climbed 0.16 percent to stand at 6,786.49 points approaching midday in the British capital.Frankfurt's DAX 30 climbed 0.23 percent to 9,564 points and in Paris the CAC 40 gained 0.59 percent to 4,417.1 compared with Wednesday's closing values.Russia's main indices were lower in late afternoon deals, with Moscow's benchmark MICEX down 1.29 percent after pro-Kremlin authorities in Crimea asked Russian President Vladimir Putin to examine a request for the Ukrainian region to join his country.However, the decline was significantly smaller than the over 10 percent plunge on Monday over the Russian parliament's approval for Putin's request to allow military action in Ukraine."European financial markets trade up Thursday ahead of key central bank decisions by the Bank of England and European Central Bank," said Ishaq Siddiqi, market strategist at traders ETX Capital."Asian markets rose on the back of confidence over easing tensions in the Ukraine."Asia's stock markets closed higher on Thursday as Western and Russian leaders try to broker a deal to end the Ukraine crisis, while Wall Street provided a tepid lead following an anaemic batch of US economic data.In foreign exchange deals, the euro dipped to $1.3732 from $1.3734 late in New York on Wednesday. The dollar climbed to 102.67 yen from 102.28 yen. The British pound eased against both the dollar and European single currency.On the London Bullion Market, the price of gold dipped to $1,335.59 an ounce from $1,337 on Wednesday.Investor confidence in higher risk assets has slowly returned, sending the safe-haven yen falling also against the euro.US Secretary of State John Kerry met Russian Foreign Minister Sergei Lavrov in Paris on Wednesday for the first time since the crisis over Ukraine began, and while no breakthrough was made, both sides will try again later Thursday in Rome.Away from Ukraine, attention later in the day will be on the ECB and Bank of England when they announce their latest monetary policy decisions."The ECB concludes its monthly policy meeting today amid warnings that the eurozone faces disinflation risks" or slower inflation, noted Neil MacKinnon, economist at financial group VTB Capital.On the corporate front, Bouygues Telecom on Thursday made a 14.5 billion-euro ($19.9-billion) offer for Vivendi's SFR unit in a deal that could create a new French telecoms powerhouse amid a wave of consolidation in the sector.The news resulted in big gains and losses for shares in the telecoms sector. Shares in Aviva meanwhile rocketed 9.32 percent to 509.5 pence after the British insurer said it swung back into profit during 2013.Wall Street ended mixed on Wednesday following below-forecast US jobs data.


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