According to Jinshi Data on July 18, European stocks gave up their early gains, and technology stocks resumed their decline on Wednesday, as investors waited for the interest rate decision to be announced by the European Central Bank tonight. The European Stoxx 600 index is now basically flat, having risen by 0.4% earlier. Technology stocks fell the most and failed to get much support from the positive financial report released by TSMC. ASML fell 2.3%.
The European Central Bank is expected to keep interest rates unchanged today after its first rate cut last month, with the market mainly focused on any indications that President Christine Lagarde may give on the direction of the September meeting. Ricardo Gil, deputy chief investment officer at Trea Asset Management, said: "Today's ECB meeting should be a transitional meeting, and Lagarde is expected to reiterate her reliance on data."