European stocks declined in the mid-market trading Thursday, following Asian peers, as investors await the outcome of the last European Central Bank meeting of the year. The traders remain cautious, despite positive cues from the Wall Street after the widely expected interest rate hike by U.S. Federal Reserve.
On Thursday, the ECB, and Bank of England will deliver their final monetary policy decisions of the year at their respective meetings. ECB President Mario Draghi's comments during the central bank's policy meeting will be looked upon as he is expected to offer the first growth and inflation forecasts for 2020.
The traders also await U.S. retail sales data due on Thursday.
On Wednesday, the Federal Reserve said that it expects faster growth and lower unemployment next year as the U.S. economy strengthens. However, it left its rate outlook for the coming years unchanged even as policymakers projected a short-term increase in economic growth in the US with Trump administration's proposed tax cuts.
The pan-European Stoxx Europe 600 index traded down 0.85 points or 0.22 percent to 389.85.
France's CAC 40 index traded down 17.54 points or 0.32 percent to 5,381.90.
The benchmark DAX in Germany moved down 69.68 points or 0.53 percent to 13,055.96.
The FTSE 100, U.K.'s benchmark for blue-chip stocks, was also down 21.75 points or 0.29 percent to 7,474.76.
In corporate news, German engineering specialist Bertrandt Group's stock declined around 2 percent after reporting sharply lower profit in its fiscal 2017, despite slightly higher revenues. The company also maintained its dividend.
Petrofac shares fell around 2 percent after it said its overall trading remains in line with expectations and that Chairman Rijnhard Van Tets has notified the Board of his intention to step down from the Board.
by RTT Staff Writer
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