European stocks were seen in green during the early trading hours of Thursday, as investors focus on the upcoming meeting of the Bank of England rate decision scheduled for later in the day.
The European Euro Stoxx 50 rose 1.16% higher at 2,938.50 at the time of writing, while the French CAC 40 gained 1.12% at 4,173.30. At the same time the UK FTSE 100 advanced and the German DAX 30 gained 0.84%, standing at 8,588.00.
In France, the country’s industrial production edged 0.2% higher in August, lower than the estimated reading of 0.6% made by analyst.
While the French manufacturing production jumped 0.3% in August, while analysts estimated an increase of 0.6%.
In Italy, the country’s industrial production report is expected to be released by 8:00am GMT.
The US President Barack Obama has nominated Janet Yellen as the next Federal Reserve (Fed) Chairwoman. Investors are expecting Janet Yellen to start scaling back on the Fed’s $85 billion monthly stimulus program as soon as possible.
Meanwhile, the president of European Central Bank (ECB) Mario Draghi explained why the integration of the euro zone’s banking system is very important to the economy. The European Central Bank (ECB) is expected to begin its banking process with the single supervisory mechanism which has been approved by the European Parliament.
“We trust that a single resolution mechanism will enter into force by the beginning of 2015,” Mario Draghi commented.
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