European stocks opened stable

European stocks began trading on Thursday on a stable note after the positions of European Central Bank policymakers reduced market optimism regarding interest rate cuts, while investors again awaited comments from Federal Reserve Chairman Jerome Powell.

The European STOXX 600 index saw little change by 0810 GMT after touching the highest level in three weeks during the previous session.

Investors are awaiting Powell’s comments at 1900 GMT after he refrained from commenting on monetary policy on Wednesday.

European Central Bank policymakers signaled on Wednesday that more progress is needed in curbing inflation and that companies and governments need to cooperate to avoid further policy tightening.

AstraZeneca shares rose 1.6 percent after it raised its annual profit expectations and announced better-than-expected profits and revenues for the third quarter.

Schneider Electric shares jumped 5.8 percent after revealing the company’s long-term outlook.

Flutter’s stock fell 8.3 percent after the world’s largest online betting company expected profits for the year as a whole to come at the lower end of its previous forecast range, which in turn led to a 2.2 percent decline in the travel and entertainment sector.