FTSE off to a higher start, BOE decision eyed

The stocks on the European bourses set-off the BOE’s ‘Super Thursday’ on a positive note, finding fresh momentum from strong close on the Asian equities as also from a rebound in the banking stocks witnessed a day before.

The moods were also lifted as investors cheer higher odds of the BOE expanding its stimulus measures at its monetary policy decision due later today. The BOE is widely expected to cut interest rates by 25 basis points to a new record low of 0.25%, marking the first rate cut by the bank in seven years. 

Besides, overnight rally in the oil prices also underpinned the resource and energy stocks, in turn lifting the region’s indices higher. While traders cheer upbeat earnings reports from the German industrial giant Siemens and pharmaceuticals group Merck KGaA.

Currently, Germany's DAX 30 index jumps +0.62% to 10,234, while the UK's FTSE index trades +0.10% to 6,650. Among other European indices, the French CAC 40 index edges +0.44% higher at 4,340, while the pan-European Euro Stoxx 50 index rises +0.73% to 2,930 points.