European stocks open higher on Thursday after yesterday's FED statement indicating that interest rates may remain on hold for a longer than anticipated time and will rise at a slower pace. The Federal Reserve, although removing the 'patient' wording from its minutes, lowered forecasts on economic growth and inflation - the strong dollar keeps inflation below the targeted 2% and slows export-growth. FED chair Janet Yellen said that the FED has not yet decided on the timing of a rate hike but it could happen at any FOMC meeting this year.
AT 09:00 the ECB will publish its Economic Bulleting followed by the EU Economic Summit at 10:00 GMT and the Targeted LTRO at 10:15 GMT.
The commodity heavy FTSE 100 index is currently trading 0.36%, with gains in the mining sector, quoted at 6,970.31. The index set intraday a new all-time high at 6,982.79 points. Germany's DAX 30 is trading 0.51% at 11,983.75 points, still below the psychologically important mark of 12,000 points. France's CAC 40 is currently trading at 5,049.65 points, 0.32%.