European Stocks Stable Ahead of ECB Decision

Not much changed in European stocks Thursday, December 10 after a meeting between the leaders of Britain and the European Union on a trade deal failed to yield progress, while investors were reluctant to make big bets due to an awaited decision from the European Central Bank later today.

The European Stoxx600 index settled, while the British FTSE100 index rose 0.5% as the British Pound resumed its decline.

British Prime Minister Boris Johnson and European Commission President Ursula von der Leyen gave themselves a deadline that expires within the next few days to conclude a new trade deal after they failed to overcome persistent disputes at Wednesday’s dinner.

An annual trade of nearly a trillion dollars, currently exempt from customs duties and quotas, is at stake if no deal is reached.

Investors will also be watching for the outcome of a highly anticipated European Central Bank meeting when it is expected to unveil details of new stimulus measures promised. The decision is due at 1245 GMT, followed by a press conference at 1330 GMT.