Investing.com – European stock markets moved mostly higher on Thursday as investors digested the Federal Reserve’s latest meeting, earnings from AI darling Nvidia (NASDAQ:) and data on eurozone economic activity.
At 03:20 ET (07:20 GMT), shares in Germany were trading 0.3% higher, shares in France rose 0.3%, while shares in Britain fell 0.1%.
Fed minutes raise concerns about inflation
The Federal Reserve’s latest policy meeting, released late Wednesday, showed that US central bank officials remained concerned about US inflation.
While the minutes indicated the central bank was keeping rates high for longer, they were preceded by a series of speeches from Fed officials suggesting that persistent inflation would likely delay potential rate cuts.
In Europe, interest rates are widely expected to be cut in June, but uncertainty remains over how many more cuts the central bank will approve this year.
Eurozone Flash Purchasing Managers Index figures will take center stage on Thursday, and investors will be looking for signs of growth.
Elsewhere, the UK market is also in the spotlight after Prime Minister Rishi Sunak announced late on Wednesday that a general election will be held on July 4.
Nvidia shines in the first quarter
In company news, Nvidia reported strong first-quarter earnings, and the chipmaker also offered robust revenue guidance for the current quarter.
The company also announced a 10-for-one stock split and said it would increase its quarterly dividend by 150% to 1 cent per share after the split.
Hargreaves Shares in Lansdown (LON:) rose 12% after the fund manager rejected a bid from a consortium led by private equity giant CVC.
Shares of Wizz Air (LON:) rose almost 5% after the budget airline said it returned to profit in the year to the end of March amid “sustained” demand.
Crude Oil Drops After Fed Minutes
Crude oil prices fell, falling for a fourth straight session, after Fed minutes indicated US interest rates would remain elevated for some time to come.
At 3:20 AM ET, futures (WTI) were trading 0.3% lower at $77.34 per barrel, while the contract was down 0.2% at $81.72 per barrel.
Higher interest rates raise borrowing costs, eliminating funds that could boost economic growth and oil demand in the world’s largest oil-consuming country.
U.S. crude inventories also rose by 1.8 million barrels last week, also weighing on the market, compared with an estimate of a decline of 2.5 million barrels, according to the Energy Information Administration.
Moreover, the price rose 1.1% to $2,366.40/oz, while trading 0.1% lower at 1.0812.
