欧元/港币 (EURHKD) 加自选

富时MIB指数微跌0.2%，收于40600点，因市场评估了欧洲贸易前景、欧洲央行政策和悲观的盈利结果。欧洲央行保持利率不变，正如预期的那样，拉加德总统指出，欧元区经济仍然具有弹性，这促使市场减少了今年降息的赌注。一年多来首次暂停宽松周期。与此同时，两名欧盟外交官周三表示，与美国的贸易谈判正朝着15%的关税趋同，这反映了美日框架，并减少了早些时候30%关税的威胁。在企业方面，意法半导体在十多年来首次出现季度亏损后暴跌超过16%。Moncler下降了近6%，销售额下降了2%，受旅游活动疲软的影响，尤其是在欧洲、中东和非洲地区和日本。

The FTSE MIB edged down 0.2% to close at 40,600 as markets assessed the outlook for European trade, the ECB's policy, and pessimistic earnings results. The ECB held its rates unchanged as expected and President Lagarde noted that the Eurozone's economy remains resilient, driving markets to pare bets of rate cuts this year. pausing its easing cycle for the first time in over a year. In the meantime, two EU diplomats said Wednesday that trade talks with the US are converging toward a 15% tariff, mirroring the US-Japan framework and reducing the threats of 30% tariffs from earlier. On the corporate front, STMicroelectronics plunged over 16% after posting its first quarterly loss in more than a decade. Moncler dropped nearly 6% as sales declined by 2%, hurt by weaker tourist activity, especially in EMEA and Japan.

欧洲股市周四收高，市场评估了欧盟的贸易和货币政策前景。斯托克50指数上涨0.3%，至5359点，斯托克600指数上涨0.3%至552点。欧洲央行维持利率不变，并指出通货紧缩的发展符合其早先的预测。央行还指出，在进一步明确政策前景之前，需要对经济发展有更多的了解，包括与美国达成潜在的贸易协议，以及欧元在未来几个月将如何走强。尽管如此，在欧洲央行行长拉加德指出可能没有必要降息后，市场还是减少了今年降息的押注。与此同时，有报道称，在欧盟外交官更接近达成的贸易协议中，美国可能会接受将对欧盟的关税降至15%，这是对其他国家关税的最低门槛。法国巴黎银行股价上涨0.4%，因其收入和收益也超出预期。

European stocks closed higher on Thursday as markets assessed outlooks for trade and monetary policy in the EU. The STOXX 50 added 0.3% to 5,359 and the STOXX 600 rose 0.3% to 552. The ECB held its interest rates unchanged and noted that disinflation has developed in line with its earlier forecasts. The central bank also noted that more insights on economic developments will be necessary before further clarity on the policy outlook can be signaled, including a potential trade deal with the US, and how a strong euro will move in the coming months. Still, markets pared bets of rate cuts this year after ECB President Lagarde noted that rate cuts may not be warranted. In the meantime, reports indicated that the US is likely to accept lowering tariffs against the EU to 15%, the bottom threshold of tariffs on other countries, amid the trade deal that EU diplomats were closer to agreeing to. BNP Paribas rose 0.4% as it also beat expectations on both revenue and earnings.

巴黎CAC 40指数周四扭转早盘涨势，收于7818点，下跌0.4%，因投资者降低了对欧洲央行进一步降息的预期。欧洲央行维持利率不变，因为政策制定者在贸易不确定性和通胀率达到2%的目标之际保持观望立场，而拉加德总统表示欧洲央行“处境良好”。市场还密切关注华盛顿和布鲁塞尔之间正在进行的关税谈判，有报道称，一项协议即将达成，该协议将对部分欧洲进口产品征收15%的关税，同时取消其他进口产品。在企业新闻方面，意法半导体股价暴跌16.6%，此前该公司未达到第二季度盈利预期，并报告了与重组费用相关的营业亏损。从好的方面来看，法国巴黎银行在收入和利润均超过预期后上涨了0.4%。

Paris’ CAC 40 reversed early gains to close 0.4% lower at 7,818 on Thursday, as investors scaled back expectations for further ECB rate cuts. The European Central Bank left rates unchanged, as policymakers maintained a wait-and-see stance amid trade uncertainty and inflation reaching the 2% target, while President Lagarde stated the ECB is “in a good place.” Markets also kept a close eye on ongoing tariff negotiations between Washington and Brussels, with reports suggesting a deal is near that would impose 15% tariffs on select European imports while removing others. In corporate news, STMicroelectronics plunged 16.6% after missing Q2 earnings estimates and reporting an operating loss tied to restructuring charges. On the upside, BNP Paribas rose 0.4% after beating forecasts on both revenue and profit.

法兰克福DAX 40指数周四下午收窄早盘涨幅，收于24270点，涨幅0.1%，此前欧洲央行一年来首次保持关键利率不变。这一决定反映了政策制定者在应对围绕欧盟-美国关税争端的持续不确定性时的观望态度。华盛顿和布鲁塞尔之间的贸易谈判仍在继续，有报道称，双方即将敲定一项协议，对部分欧洲进口商品征收15%的关税，同时取消对其他国家的关税。在企业新闻方面，德意志银行在公布第二季度利润强于预期后飙升8.5%，从一年前的亏损中反弹。MTU航空发动机公司股价下跌3.5%，尽管第二季度营业利润增长41%。在宏观经济方面，德国消费者信心在8月份意外下降。7月份的PMI数据显示，商业活动仅略有增长，势头较6月份有所放缓，低于预期。

Frankfurt’s DAX 40 pared earlier gains to trade 0.1% higher at 24,270 on Thursday afternoon, after the ECB left key interest rates unchanged for the first time in a year. The decision reflects a wait-and-see stance as policymakers navigate ongoing uncertainty surrounding the EU-US tariff dispute. Trade talks between Washington and Brussels continued, with reports indicating that the two sides are close to finalizing a deal that would impose 15% tariffs on select European imports while removing duties on others. In corporate news, Deutsche Bank surged 8.5% after reporting a stronger-than-expected Q2 profit, rebounding from a loss a year earlier. MTU Aero Engines slumped 3.5% despite reporting a 41% jump in Q2 operating profit. On the macroeconomic front, German consumer sentiment unexpectedly declined heading into August. Flash PMI data for July showed only modest growth in business activity, with momentum slowing from June and falling short of expectations.