European stocks rose Thursday as traders renewed bets on an economic recovery, ahead of a European Central Bank meeting in which the central bank will communicate its intention to keep monetary policy loose for the foreseeable future.
Futures on the S&P 500 ES00, +0.20% edged 0.2% higher, after the S&P 500 SPX, +0.82% rose Wednesday for the second day in a row, adding 2.4% over the period. “We believe that the meeting may deliver some dovish tweaks to the ECB’s language and forward guidance that reflect changes announced in the recent monetary policy strategy review, in particular the ECB’s statement that monetary policy needs to be ‘especially forceful or persistent’ when policy is set close to the looser end of the spectrum,” said strategists at Credit Suisse.
Earnings continued to pour in on both sides of the Atlantic. Unilever ULVR, -5.26% shares slumped 4% in London, as the maker of Dove soap and Ben & Jerry’s ice cream warned its operating margin for the year will be flat due to cost inflation.
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