The European markets have been fluctuating on Thursday and are currently slightly to modestly higher, ahead of the interest rate decision from the European Central Bank. A rise in crude prices and low valuations, following recent losses, boosted investor sentiment in early trade.
The Euro Stoxx 50 index of eurozone bluechip stocks is losing 0.15 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, is falling 0.06 percent.
The German DAX is adding 0.22 percent and the French CAC 40 is gaining 0.07 percent. The UK's FTSE 100 is up 0.02 percent, while Switzerland's SMI is losing 0.12 percent.
Among the DAX components, Infineon Technologies is declining 4.3 percent. Morgan Stanley downgraded the stock to "Equal-weight" from "Overweight" and reduced the price target to 8.80 euros from 9.40 euros.
Commerzbank is falling 2.5 percent and Deutsche Bank is losing 0.8 percent. Citigroup raised Commerzbank to "Hold" from "Sell," but reduced the price target to 3.30 euros from 4.49 euros.
HSBC increased its price target on Deutsche Post to 17 euros from 16.50 euros. The stock is falling 0.7 percent.
Citigroup removed Basf and K+S from 'Most Preferred List.' K+S is down 0.3 percent, while Basf is adding 1 percent.
Outside the main index, Kabel Deutschland is falling 2.8 percent. Citigroup lowered its rating on the stock to "Sell" from "Hold,"while Goldman Sachs cut its price target on the cable operator to 61.40 euros from 61.50 euros. However, UBS raised its price target on the stock to 45 euros from 41 euros.
Automakers BMW and Volkswagen are notably higher, while Daimler is down 0.1 percent.
In Paris, lenders Credit Agricole, BNP Paribas, Societe Generale and Natixis are losing between 1 percent and 0.3 percent.
Suez Environnement is rising 2.3 percent, reportedly on a broker upgrade. Veolia Environnement is adding 0.7 percent.
PPR is rising 0.7 percent. Barclays initaited the stock with "Overweight" rating and a price target of 136 euros.
In London, Barclays is losing 1.5 percent and Lloyds Banking Group is falling 2.1 percent. Royal Bank of Scotland is declining 1.6 percent. The Bank of England held the key interest rate at 0.5 percent today.
Anglo American and Antofagasta are moderately higher. BHP Billiton is slightly up, while Rio Tinto is falling 0.4 percent.
Retailer Marks & Spencer is falling 1.4 percent. Next is falling 0.6 percent. Outside the main index, Home Retail is falling over 12 percent. The company said Argos sales were down 8 percent in the first quarter and issued a cautious full year outlook.
Nestle is down 0.65 percent in Zurich. Barclays and Credit Suiisee reduced their price targets on the stock.
Nokia is slightly down in Helsinki. HSBC cut its price target on the stock to 4.40 euros from 6.50 euros.
Across Asia/Pacific, Australia's All Ordinaries added 0.28 percent and Japan's Nikkei 225 gained 0.19 percent. China's Shanghai Composite Index and Hong Kong's Hang Seng lost 1.71 percent and 0.23 percent, respectively.
In the U.S., futures point to a higher open on Wall Street. In the previous session, all the major averages closed in negative territory, although the tech-heavy Nasdaq underperformed its counterparts. The Dow edged down 0.2 percent, while the Nasdaq fell 1 percent and the S&P 500 slid 0.4 percent.
In the commodity space, crude for July delivery is rising $0.52 to $101.26 per barrel after OPEC Wednesday unexpectedly left its production quotas unchanged. Analysts had expected the 12-member group to boost production in an effort to cool off oil prices and take some pressure off the world economy. August gold is sliding $2.1 to $1536.6 a troy ounce.
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May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.