European Stocks Edge Up Amid Mixed Earnings and Anticipated ECB Rate Cuts

European stocks experienced a slight rise as investors anticipated a dovish ECB rate cut decision, while also evaluating mixed corporate earnings. STOXX 600 index increased, led by Nordea's gains. Notably, Sartorius shares climbed, while Nestle and Nokia faced declines after disappointing sales reports.

On Thursday, European stocks witnessed a marginal increase as investors anticipated a dovish outlook from the European Central Bank amidst a largely expected interest rate cut. Meanwhile, market participants carefully parsed through a set of mixed corporate earnings.

The STOXX 600 index rose by 0.1% at 0713 GMT after a decline over the previous two days. Key contributors included Finnish bank Nordea, whose shares surged 5.5% following a raised forecast and announcement of a new share buyback programme.

The ECB is poised to reduce interest rates by 25 basis points on Thursday, continuing from a similar cut in September. With slowing inflation and economic challenges in the bloc, money markets are keen on any indications supporting their projections of three additional cuts through March 2025.

Significant individual movements included Germany's Sartorius, whose shares jumped 12% after third-quarter results and confirming its annual outlook. Schindler, a Swiss company crucial for assessing the real estate sector's health, saw a 2% share rise despite reporting decreased third-quarter sales.

Conversely, Nestle shares dropped 2.4% following missed sales targets and anticipated weak customer demand, while Nokia fell 3% due to quarterly sales missing estimates.

(With inputs from agencies.)