European Stock Futures rise as Fed keeps rate steady
European stock markets were upbeat on Thursday’s session as the Federal Reserve announced it is keeping its monetary policy unchanged. Helping the stocks to rally is the continuous first-quarter earnings season.
The CAC 40 futures contract in France was the biggest gainer with a 0.5% increase. The DAX futures contract in Germany added 0.1, and the FTSE 100 futures contract in the U.K. gained 0.2%.
The Federal Reserve kept its benchmark rate unmoved in the range of 0% to 0.25% on Wednesday and maintained its monthly pace of bond buying at $120 billion. The move was anticipated widely by analysts and investors.
In the corporate sector, Airbus, an aircraft manufacturer, recorded higher first-quarter core earnings on Thursday but kept its forecasts unchanged amid uncertainty while the Covid-19 pandemic lingers.
Standard Chartered, a bank in the U.K., posted a stronger-than-expected 18% improvement in quarterly pretax profit.
Lastly, Finnish telecom network equipment maker Nokia also reported stronger-than-expected first-quarter revenue and profit, lifted by a growth in sales of 5G equipment.