European stock exchanges fall on expectations around the ECB

According to trading data, European stock indexes are showing a decline on Friday, as investors are waiting for the upcoming meetings of the European Central Bank and the US Federal Reserve System.

In particular, the British FTSE 100 index fell by 0.5% and reached the level of 7,561.67. The French CAC 40 fell by 0.37% to 7,195.64 points, and the German DAX decreased by 0.29% to 15,943.05 points.

Traders today are focused on the upcoming ECB meeting scheduled for June 15. It is expected that the regulator may raise the key rate by 25 basis points from the current 3.75% per annum.

In addition, a two-day meeting of the US Federal Reserve will be held on June 13-14. About 72.4% of experts predict that the Fed's key rate will remain at the current level of 5-5.25% per annum in June. Forecasts for July suggest an increase in the rate to 5.25-5.5% (52% of analysts). 

Friday's trading was also influenced by corporate news. For example, the shares of the British company Croda are down by 13.3% after the publication of a weak profit forecast. In 2023, the group expects pre-tax profit in the range of 370-400 million pounds, while in 2022 this figure was 780 million.