Investing.com -- European markets traded largely flat on Thursday as the European Central Bank cuts interest rates by 25-basis-points as widely expected.
At 12:15 ET (17:15 GMT) Germany's DAX gained 0.15%, the UK's FTSE 100 edged 0.12% higher, while France's CAC 40 dropped 0.03%.
ECB meeting outcome
Eurozone inflation was at 2.3% in November, marginally above the ECB’s 2.0% target, but the central bank’s fresh projections are likely to show inflation back at target in a few months' time.
The Swiss National Bank offered up something of a surprise earlier in the session, by cutting interest rates by a whopping 50 basis point as policymakers attempt to curb the appreciation in the franc.
Equities trading has taken place in tight ranges during the European session Thursday.
US inflation data meets expectations
In the United States, the latest inflation data revealed a 0.3% increase in consumer prices month-on-month, with an annual growth rate of 2.7%.
Both figures aligned with economists’ forecasts, offering some relief to markets after recent volatility.
Producer prices are due later on Thursday, but this would need to be a major surprise to alter the market expectation of a Federal Reserve rate cut for Dec. 18.
Currys soars after strong H1 results
In corporate news, Currys (LON:CURY) stock soared over 17% after the electric goods retailer delivered standout results for the first half of fiscal 2025, showcasing strong profitability growth across key regions despite a challenging consumer environment.
Lonza (SIX:LONN) shares rose over 4.9% following the pharmaceutical company’s announcement of plans to divest its Capsules & Health Ingredients unit as part of a strategy to sharpen its focus on drug development and manufacturing.
Oil prices up amid mixed influences
Oil prices were relatively stable on Thursday as traders assessed a mix of global factors.
By 12:15 ET, Brent crude futures fell by 0.26% to $73.3 per barrel, while West Texas Intermediate (WTI) crude was up 0.33% to $70.50 per barrel.
This steadiness followed a sharp increase in the prior session, driven by expectations of tighter global supply due to potential new U.S. sanctions on Russian oil exports.
Gains were also boosted earlier in the week by China's announcement of additional economic stimulus measures, although OPEC’s recent gloomy outlook on oil demand tempered enthusiasm.
(Navamya Acharya contributed to this article.)