European stocks rise on ECB rate cut expectations

European stocks rose on Thursday as investors looked for clues on a rate cut by the European Central Bank and parsed corporate earnings.

The pan-European STOXX 600 index was up 0.1% by 0713 GMT after two days of declines.

Finnish bank Nordea rose 5.5% after it revised its outlook upwards and announced a new share buyback programme, boosting the banking sector.

The European Central Bank is expected to cut interest rates by another 25 basis points on Thursday, following a similar cut in September.

Amid slowing inflation and further economic difficulties in the bloc, financial markets are looking for signs that three more rate cuts are likely by March 2025.

Germany's Sartorius rose 12% to a fresh high on the STOXX 600 after reporting third-quarter results and confirming its full-year outlook.

Swiss elevator maker Schindler rose 2% after reporting a drop in third-quarter sales following a drop in new installations worldwide.

Nestle fell 2.4% after the company missed sales targets and forecast continued weak customer demand.

Nokia fell 3% after quarterly sales missed expectations.