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LONDON — European stocks were higher on Friday as investors continue to digest the European Central Bank’s decision to cut rates and its impact on future monetary policy.
The pan-European Stoxx 600 was up 0.5% in early deals, with all sectors and major bourses trading in positive territory. Mining stocks led gains, up 0.97%, while media was also 0.85% higher.
The European Central Bank slashed rates as expected on Thursday, marking its second 25-basis-point cut this year and bringing its key interest rate to 3.5%.
Policymakers gave little indication on the course for monetary policy, however, with President Christine Lagarde saying the bank was not “pre-committing to a particular rate path.”
The ECB’s meeting comes just days ahead of the U.S. Federal Reserve’s Sept. 17-18 meeting, at which it’s expected to begin its own rate-cutting cycle.
U.S. stock futures were little changed overnight after the S&P 500 notched its fourth-straight winning session.
Asia-Pacific markets, meanwhile, were mixed, as mainland Chinese markets rebounded from a six-year low and Australian markets near an all-time high.
Back in Europe, inflation data is due out of France on Friday. There are no corporate earnings.
