European stocks rise as Nestlé leads strong earnings wave; Credit Suisse slumps
European stocks rose on Thursday, buoyed by a solid start to earnings season on both sides of the Atlantic, with the European Central Bank expected to keep policy intact.
The Stoxx Europe 600 SXXP,
The ECB is making its monthly monetary policy announcement, though analysts don’t expect it to follow the Bank of Canada in reducing its bond purchases in the face of signs of a strengthening economy. In March, the ECB said it would accelerate its bond purchases within its existing €1.85 trillion program, and while it hasn’t really done so, euro-area bond yields have stabilized.
“So, the Governing Council will have no additional cause for concern about financial conditions, even while lack of clarity about its precise reaction function persists,” said Chris Scicluna, head of research for Daiwa Europe.
U.S. stock futures ES00,
Nestlé NESN,
Credit Suisse CSGN,
Wartsila WRT1V,
Volvo VOLV.B,