Market Wrap: Pound loses ground ahead of BoE decision; SILVER and GOLD return to declines
AdamSummary:
European markets were mixed ahead of BoE and ECB decisions, while the pound weakened, silver and gold resumed sharp declines, equities dipped modestly, and cryptocurrencies slid, with Bitcoin falling below $70,000.
We are slowly entering the second phase of Thursday's trading session.
The markets are still awaiting the BoE and ECB decisions on interest rates. The first will take place in less than 14 minutes, at 13:00. The ECB will decide at 14:15.
The European Central Bank is expected to keep interest rates unchanged for the fifth time, as the strong economy has so far withstood global tensions and the strong euro. The Bank of England is also expected to keep interest rates unchanged, despite growing concerns about the British labour market.
At present, Germany's DAX is down 0.46% on the cash market, France's CAC40 is up 0.2%, and the UK's FTSE100 is down 0.45%.
Precious metals return to dramatic declines: silver slumps 11% to $78, completely erasing the rebound of the last two sessions, gold retreats another 1.7% to $4,875, platinum contracts lose 6.5%.
The Stoxx Europe 600 index fell by 0.16%, with the technology and media sectors performing best and automotive stocks performing worst.
Rheinmetall AG recorded a decline of 6.9% after analysts' forecasts led to a downward revision of the consensus earnings forecast for this year.
A.P. Moller-Maersk A/S fell 3.8% after the Danish container giant announced it would focus on cost discipline in the face of deteriorating freight rates caused by the reopening of the Red Sea.
KGHM Polska Miedź SA fell by 4.9%, leading declines in shares of companies in the basic materials sector.
Meanwhile, the decline in silver prices provided a boost for Pandora A/S, whose shares rose 6.3%, offsetting a break in share buybacks following a forecast of slower sales this year.
Shell Plc fell 2.3 per cent after its profit missed expectations.
The Swiss franc and the US dollar are performing best on the Forex market. We are seeing declines, particularly in the British pound.
We are seeing significant declines in cryptocurrencies. Bitcoin has fallen below £70,000 for the first time since November 2024.
Source: xtb
To stay updated on all economic events of today, please check out our Economic calendar
Copyright © 2026 FastBull Ltd
News, historical chart data, and fundamental company data are provided by FastBull Ltd.
Risk Warnings and Disclaimers
You understand and acknowledge that there is a high degree of risk involved in trading. Following any strategies or investment methods may lead to potential losses. The content on the site is provided by our contributors and analysts for information purposes only. You are solely responsible for determining whether any trading assets, securities, strategy, or any other product is suitable for investing based on your own investment objectives and financial situation.
