European Shares Climb as Energy Stocks Offset Tech Declines

European shares rose on Thursday, driven by gains in the energy sector, which overshadowed declines in technology stocks. The STOXX 600 index was up 0.3%, poised to end a streak of three losses. Investors are closely watching the European Central Bank's interest rate decision, expected later in the day.

Devdiscourse News Desk

Updated: 18-07-2024 14:39 IST | Created: 18-07-2024 14:39 IST

European shares experienced an uptick on Thursday, thanks to a strong performance by energy stocks that balanced out declines in the technology sector. The STOXX 600 index rose by 0.3% at 0838 GMT, setting the stage to break a three-day losing streak.

The energy sector contributed nearly a 1% gain to the benchmark index, tracking higher crude oil prices. However, this was partially offset by a 0.4% loss in technology stocks due to ongoing concerns about more stringent U.S. trade policies.

Investor focus remains on the European Central Bank's upcoming interest rate decision, expected at 1215 GMT. The central bank is anticipated to keep interest rates unchanged but may hint at future cuts, influenced by similar expectations for the U.S. Federal Reserve in September.

(With inputs from agencies.)

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