European stocks drop at open, before ECB rates update

LONDON: European stock markets dropped at the start of trading Thursday as investors awaited an update on the outlook for eurozone interest rates.

The Paris CAC 40 index shed 0.2 percent to 7,440.76 points and Frankfurt’s DAX lost 0.2 percent to 16,854.19.

Eurozone stock markets rally as data ignites rate-cut hope

Outside the eurozone, London’s benchmark FTSE 100 index dipped 0.1 percent to 7,518.54 points.

The European Central Bank is expected to stand pat Thursday following a regular interest-rate meeting and call for patience in the drawn-out battle against high inflation, pushing back against market hopes of rapid cuts to borrowing costs.