LONDON: European stock markets steadied at the start of trading on Thursday, as traders awaited a major interest rate decision by the European Central Bank and reacted to Portugal's bailout request.
London's benchmark FTSE 100 index gained a modest 0.14 percent to 6,049.83 points, Frankfurt's DAX 30 dipped 0.04 percent to 7,212.46 points and in Paris the CAC 40 edged up 0.01 percent to 4,048.70.
The European Central Bank was Thursday set to raise its interest rates for the first time since July 2008 as concern over inflation trumps fears of collateral damage to weaker eurozone economies.
The benchmark rate for the 17-nation zone has been at a record low 1.0 percent since May 2009.
Eurozone member Portugal has meanwhile finally decided to request financial assistance from the European Union, paving the way for a third bailout of a eurozone country after Ireland and Greece.
Analysts have said that Portugal, which requested help late on Wednesday, could require a package worth 70 billion euros (100 billion dollars), compared with 85 billion for Ireland and 110 billion for Greece.
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