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LIVE: Wall Street turns positive as FTSE closes higher

A look at how the major markets are performing on Thursday

LaToya Harding and Pedro Goncalves
·1-min read
FTSE U.S. Federal Reserve Chairman Jerome Powell speaks during a press conference after the release of the Fed policy decision to keep interest rates unchanged, at the Federal Reserve in Washington, U.S, June 14, 2023. REUTERS/Kevin Lamarque
FTSE closes higher while US stocks turn positive as investors digest 'hawkish' Fed. Photo: Kevin Lamarque/Reuters (Kevin Lamarque / reuters)

European stock markets were on cautious footing on Thursday as the European Central Bank (ECB) made its latest decision on interest rates.

In London, the FTSE 100 (^FTSE) rose 0.34% to close at 7,628, while the CAC (^FCHI) tumbled 0.65% in Paris, and the Frankfurt DAX (^GDAXI) was 0.19% lower.

The ECB hiked interest rates by 25bps to 3.5% as expected. It comes as the US Federal Reserve left interest rates on hold last night, pausing after 10 consecutive increases.

Wall Street bounced back after a weak start, with the S&P 500 (^GSPC) up about 0.35%, while Dow Jones Industrial Average (^DJI) added 188 points. The technology-heavy Nasdaq Composite (^IXIC) climbed 0.2%.

Watch: What is a recession and how do we spot one?

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