European Stocks On The Rise Amid Federal Reserve's Interest Rate Cut Signals

European stocks experienced a slight uptick while oil prices fell for the fifth consecutive day, and the dollar remained subdued. Federal Reserve minutes indicated that U.S. interest rate cuts are imminent, validating market expectations. The overall economic outlook remains cautious as various global economic data awaits release.

European stocks ticked higher, oil fell for a fifth straight day and the dollar remained subdued on Thursday after Federal Reserve minutes signaled that U.S. interest rate cuts were set to begin in a few weeks' time. The minutes stated that the 'vast majority' of policymakers felt that a September cut would be appropriate if data comes in as expected, confirming market expectations.

Shares in Europe, after recovering from early-month lows struck during a burst of volatility, aimed for gains. The STOXX 600 index climbed by 0.3%, led by retail stock performance, despite a more subdued session on Asian indexes.

Oil prices, however, continued to fall. Brent futures settled at $75.96 per barrel, approaching this year's low as China's demand outlook weakens and impending rate cuts point to a potential U.S. economic slowdown. Meanwhile, a slew of economic data from major economies is anticipated, including eurozone consumer confidence and U.S. PMI and initial jobless claims data.

(With inputs from agencies.)