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Market Update

European Stocks Steady Ahead of Policy Meet

European markets were little changed in early Thursday morning trades as investors awaited the outcomes of policy meetings of the European Central Bank and the Bank of England.

The FTSE 100 edged up 0.1% at 8:28 London time. The CAC 40 Paris too added 0.1% while the DAX Frankfurt was flat at the time of writing.

Both the ECB and the Bank of England are expected to leave their respective interest rates unchanged later in the day.

But markets would keep a close watch on ECB president Mario Draghi's comments while incoming Bank of England governor Mark Carney's testimony before a U.K. parliamentary commentary is also likely to be in focus.

Stocks on the move

In earnings related news, French drugmaker Sanofi SA reported a 72% decline in fourth-quarter profit. Shares of Sanofi dropped over 4% in response.

U.K. based telecom giant Vodafone Group Plc. gained 1.8% despite posting a fall in third-quarter revenue as the mobile giant reaffirmed its annual guidance for adjusted operating profit and free cash flow.

German car manufacturer Daimler AG also rose 1.8% after the automaker's net profit jumped 32% to 2.36 billion euros in the October-December quarter. The company said it expected continued revenue growth this year as well as the coming year due to a range of new products.

French-American telecom-equipment manufacturer Alcaltel Lucent SA bounced 6.4% amid news the company's chief executive Ben Verwaayen would step down.