European stocks resume rally ahead of BOE decision

The European stock markets resumed its recent uptrend on Thursday, reversing a brief dip seen yesterday, as increased bets of a BOE rate cut at its policy meeting today boosts the overall market sentiment.

Moreover, a newly appointed UK PM and Brexit team along with higher oil prices, also collaborates to the upside in the European equities.

Meanwhile, focus solely remains on the BOE policy decision for next direction on the markets. Analysts at Goldman Sachs see 30% chance of rate cut in July as MPC give "initial assessment" that further easing is needed. See 25bp rate cut and Stg100bln QE in August.

Currently, Germany's DAX 30 index jumps +1.45% to 10,075, while the UK's FTSE index rises +0.82% to 6,725. Among other European indices, the French CAC 40 index advances +1.25% to 4,389, while the pan-European Euro Stoxx 50 index rallies +1.17% to 2,970 points.