European stocks saw a slight rise on Thursday, with the STOXX 600 index gaining 0.3%, supported by retail stocks.
This came as oil prices dropped for the fifth consecutive day, with Brent futures nearing the year’s low at $75.96 a barrel, reflecting concerns over weakening demand from China and an expected U.S. economic slowdown due to looming interest rate cuts.
The U.S. Federal Reserve’s recent minutes indicated that a September interest rate cut is likely, which kept the dollar subdued at 101.21 and caused Wall Street futures to anticipate gains of around 0.7%.
Despite the euro’s strong performance earlier in the month, it fell 0.2% to $1.1128 following disappointing PMI data from Germany, indicating continued economic struggles in the region.
As markets await a range of economic data, including U.S. PMI and jobless claims, investor focus remains on the implications of the anticipated Fed rate cuts, which have influenced global market movements this week.
