European stocks slip as markets await U.S. stimulus

European stocks edged lower on Thursday while investors were waiting for signs of agreement on the United States stimulus package.

The pan-European STOXX 600 (SXXP) fell by 0.2% after the market’s opening while the German DAX traded flat by 27.9%.

The Frankfurt Stock Exchange (FSE) was up by 0.2% as investors digested a new batch of corporate earnings reports.

The British pound (GBP) rose by 0.3% against the U.S. dollar (USD) after the Bank of England said that the United Kingdom’s economic slump would be less severe than previously expected.

“Stocks are really struggling to find direction until we know the outcome of those negotiations. The clock is ticking for U.S. policymakers to get something done,” J.P. Morgan’s (JPM) Global Markets Strategist Hugh Gimber said.

Siemens (BIY) jumped by 2.9% due to its business improvement in China.

S&P 500 (SPX) futures gained by 0.2%.