The European Central Bank raised interest rates by 25 basis points, the lowest rate since it started raising them last summer, bringing the benchmark for borrowing costs in the euro zone to 20 country at 3.25 versus 3% earlier.
stock movements
The pan-European Stoxx 600 index closed down 0.5%, close to a one-month low hit earlier this week.
Meanwhile, shares of Swedish automaker Skanska fell 11.1% after posting a sharp fall in first-quarter operating profit.
Shares of European banks fell 1.5% on renewed concerns over turmoil at US regional banks after shares of Bacoist Bancorp hit a record high after the bank held talks on strategic options.
On the other hand, “Shell” shares rose 0.9% after its first-quarter earnings fell slightly from the previous quarter as energy prices slowed, but still rose above expectations. expectations.
Ferrari shares also rose 4.7% on first-quarter earnings that beat expectations as demand for its cars stretched into the next two years.
“We are not stopping to raise rates and that is very clear,” European Central Bank President Christine Lagarde told a news conference, noting that the central bank is still on track. to combat stubborn inflation by increasing monetary tightening.
The slight drop in the ECB’s hike comes after the US Federal Reserve raised its benchmark rate by 25 basis points to a range of 5-5.25% yesterday, but backtracked on its claim that it was expects” that more hikes are needed.
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