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(Sharecast News) - European stocks had extended gains by midday on Thursday as investors eyed the latest policy announcement form the European Central Bank.
The benchmark Stoxx 600 index was up 0.5% at 647.38, Germany's DAX was 0.9% firmer at 25,931.97 and France's CAC 40 was up 0.9% at 7,955.89.
The ECB is widely expected to leave rates unchanged at 2.50% when it announces its rate decision at 1315 GMT. Just hours ahead of the announcement, the ECB said that president Christine Lagarde plans to step down on 7 February 2027, before the end of her term. Lagarde had been due to step down next October.
Holger Schmieding, chief economist at Berenberg, said: "That she leaves early is no surprise and does not change the outlook for ECB policies and for the way the ECB deals with French risks, in our view. Only the timing of her announcement has come as a modest surprise."
Overnight, the Fed left policy rates unchanged at between 3.75% and 4.00%, as expected, with Hammack and Cook dissenting and favouring a 25 basis points hike.
Closer to home, the European Commission's economic sentiment indicator for the eurozone fell to 96.9 in October from 97.5 the month before, but the employment expectations indicator ticked up slightly.
On the corporate front, Shell jumped as it posted a near-doubling of its third-quarter profit, driven by record refining margins, and announced a $5bn share buyback programme.
Airbus gained as it maintained annual targets despite a decline in third-quarter profits.
Volkswagen rose despite posting a widening of its third-quarter losses as sales in China slumped.
Lloyds Banking Group was weaker despite saying it was on track to meet 2026 guidance as it posted a rise in third-quarter pre-tax profit and net income that met analysts' expectations.
Carlsberg fell as the Danish brewer reaffirmed its full-year profit expectations as third-quarter sales met expectations
Haleon tumbled as the consumer healthcare firm cut its full-year organic revenue growth guidance, noting that its third-quarter performance was held back by soft cold and flu consumption.