Equity markets in Europe rose on the results of the ECB meeting

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The British FTSE 100 index rose 0.62%, the German DAX rose 0.82%, and the French CAC 40 rose 0.91%. Italy's FTSE MIB and Spain's IBEX 35 added 0.98% and 1.61%, respectively.

Following the meeting on Thursday, the ECB, as expected, kept the base interest rate on loans at zero level, the rate on deposits kept at minus 0.5%. The rate on margin loans remained at the level of 0.25%. The regulator also did not change the volume of the Pandemic Emergency Purchase Program (PEPP), leaving it at 1.85 trillion euros, as experts expected. At the same time, the ECB said that the purchase of assets under the PEPP in the current quarter will continue to be carried out at a significantly higher pace than in the first months of this year.

Statistics released on Thursday indicated a more significant than expected growth in the index of entrepreneurs' confidence in the French economy in April. The indicator jumped to 104 points this month from a revised 99 points in March. The value of the indicator has become the maximum since May 2019. The consensus forecast of analysts assumed an increase in the indicator to 99 points from the previously announced 98 points.

Swiss Nestle SA shares jumped 2.9% on Thursday. One of the world's largest food manufacturers increased organic revenue by 7.7% in the first quarter of 2021. The company confirmed its annual sales growth forecast.

Hermes International SCA gained 2.1%. The French fashion house saw a significant increase in revenue from pre-crisis levels in the first quarter of 2021, boosted by particularly strong sales growth in Asia.

French Pernod Ricard SA shares gained 1.3%. One of the world's largest spirits producers increased revenue in the third quarter of the current fiscal year, returning to organic revenue growth in the nine months of the year.

Volvo AB shares gained 2.5%. The Swedish truck manufacturer reported better-than-expected net profit and revenue in the first quarter, but warned of further disruptions in production amid a global semiconductor shortage.

The capitalization of Renault SA decreased by 1.3%. French automaker Renault SA recorded a drop in revenue in the first quarter, but the result fell short of analysts' expectations.

Orange shares fell 1.6%. The French telecoms firm reaffirmed its 2021 forecast amid revenue growth in the first quarter.

The market value of Credit Suisse Group decreased by 2.1%. The Swiss bank in January-March received a net loss for the second quarter in a row. The Swiss financial regulator (Financial Market Supervisory Authority, FINMA) on Thursday announced the launch of enforcement proceedings against the bank in connection with the losses it suffered from the collapse of the American fund Archegos Capital Management.

The material has been provided by InstaForex Company - www.instaforex.com

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