(MENAFN- AFP) Europe's main stock markets mainly steadied on Thursday, with focus on the ECB as it prepares to announce the outcome of its latest policy meeting.
London's benchmark FTSE 100 index dipped 0.08 percent to stand at 6,343.03 points around midday in the capital, with traders brushing aside upbeat British retail sales data.
In the eurozone, Frankfurt's DAX 30 gained 0.30 percent to 10,269.17 points and the Paris CAC 40 eased 0.04 percent to 4,693.12 compared with Wednesday's close.
"The main focus for the financial markets today is the ECB policy meeting and press conference," said Neil MacKinnon, economist at VTB Capital.
"There is no particular reason right now for the ECB to add fresh monetary stimulus, though many ECB-watchers are not ruling out the December meeting for the ECB to extend its QE (stimulus) programme."
The European Central Bank looks set to keep its key rates steady and refrain from any additional stimulus measures at a meeting in Malta on Thursday, despite concern about chronically weak inflation, according to analysts.
"ECB President Mario Draghi is likely to play his usual role... of talking up the risks to the eurozone economy and highlighting the broad range of policy tools available to the central bank, should it wish to use them," said Craig Erlam, senior market analyst at Oanda trading group.
Ahead of the rate announcement due at 1245 GMT, the euro fell to $1.1312 from $1.1339 late on Wednesday in New York.
Thursday's updates from the ECB "will drive direction for the euro after a stretch of trading with little volatility", said Amir Khan, corporate dealer at Currencies Direct.
"Though the ECB's likely to keep interest rates on hold, Mr Draghi's speech will be picked apart for any dovish undertones in the midst of the ECB's current quantitative easing (QE) programme, as it meets to discuss domestic economic signals amidst an uncertain global outlook," he added.
In Asia on Thursday, Shanghai stocks rallied after a fall of more than three percent the previous day, as dealers bet on fresh stimulus for China's economy before a key Communist Party meeting next week.
Wall Street stocks finished lower Wednesday following mixed earnings that included strong results from General Motors and disappointing figures from Yahoo.
"Regarding the US, today is another big day for corporate earnings with McDonalds, Amazon, Dow Chemical and AT&T all reporting," noted Markus Huber, senior analyst at brokers Peregrine & Black.
"So far, earnings season has been a bit underwhelming making US stocks not look quite as cheap as previously thought."
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