Bourses lower, Wall St pulls back

Synopsis

On Thursday morning in London, stock markets show a muted response following the release of the French election results. After a bullish start to the week, European markets decline as Wall Street pulls back from record levels. This pullback appears to be a sell-on-the-news reaction to the Trump tax cut plans, which have been a significant factor in the post-election market rally. Traders express caution, seeking solid evidence that the White House can pass its proposals before becoming overly optimistic. The day is busy with company results from major firms like Google and Amazon, while the European Central Bank (ECB) is expected to maintain its current stance during its update. Additionally, the Swedish Central Bank surprises traders by extending its asset purchase program, impacting currency values, including a half-percent drop in the kroner.