FX.co ★ European Stocks Close Slightly Higher

European stocks experienced an upward trend on Thursday as investors evaluated the prospects for trade and monetary policies within the European Union. The STOXX 50 index increased by 0.3%, reaching 5,359, while the STOXX 600 mirrored this growth, rising by 0.3% to 552. The European Central Bank (ECB) maintained its current interest rates, aligning with its previous forecasts on disinflation trends. The ECB emphasized the need for additional insights into economic developments before it can provide further clarity on its policy direction, which includes potential trade agreements with the United States and the future trajectory of a robust euro. Despite this, forthcoming rate cuts this year were deemed unlikely following ECB President Christine Lagarde's indication that such measures may not be necessary. Concurrently, there were reports suggesting that the United States might agree to reduce tariffs on EU goods to 15%, the minimal threshold applied to other nations, as EU diplomats make progress towards a trade agreement. Furthermore, BNP Paribas saw a 0.4% increase, surpassing expectations in both revenue and earnings.