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Profits in the Euromarkets, BoE decisions are awaited by investors

European stock markets moved higher on Thursday, with investor attention remaining focused on corporate earnings announcements that come at a difficult time, with unprecedented geopolitical tensions and a frantic rally in inflation.

French bank Credit Agricole jumped 4% after reporting better earnings estimates for the latest quarter, as did BNP Paribas and Societe Generale in previous days.

German giant Lufthansa, meanwhile, is gaining more than 5% after returning to operating profit in the second quarter.

On the board, the pan-European Stoxx Europe 600 index rose 0.3% to 439.68 points.

Germany’s DAX gains 0.85% to 13,704.16 points, while France’s CAC 40 gains 0.4% to 6,498.74 points

Britain’s FTSE 100 is down 0.05% at 7,442.51 as investors await Bank of England (BoE) decisions later today. The central bank is expected to raise interest rates again by 50 basis points to 1.75% as it continues its effort to rein in the highest inflation in 40 years.

Gains in the Eurozone as well, with Italy’s FTSE MIB gaining 0.7% and Spain’s IBEX 35 gaining 0.8%.

Source: Capital

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