European Markets Up on U.K. Employment, BOE Lending Rate Decision

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By Trey Thoelcke Published
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Better-than-expected unemployment data from the U.K. lifted European markets somewhat Wednesday morning. The unemployment rate declined to 8.1% for the three months that ended in May.

Minutes from the Bank of England’s July policy meeting showed that the nine-member Monetary Policy Committee voted seven-to-two for an increase in asset purchases. The committee also voted unanimously to leave the key lending rate unchanged at 0.5%.

At last check the FTSE 100 was up 0.11% to 5,635. The DAX was up 0.24% to 6,593 and the CAC 40 was up 0.69% to 3,199.

Also helping push things higher, Credit Suisse (NYSE: CS) posted ahead of schedule one of the biggest gains in the pan-European index. The bank announced a 3.6% rise in net profit for the second quarter and also said it plans to increase capital by $15.6 billion before the end of the year.

Photo of Trey Thoelcke
About the Author Trey Thoelcke →

Trey has been an editor and author at 24/7 Wall St. for more than a decade, where he has published thousands of articles analyzing corporate earnings, dividend stocks, short interest, insider buying, private equity, and market trends. His comprehensive coverage spans the full spectrum of financial markets, from blue-chip stalwarts to emerging growth companies.

Beyond 24/7 Wall St., Trey has created and edited financial content for Benzinga and AOL's BloggingStocks, contributing additional hundreds of articles to the investment community. He previously oversaw the 24/7 Climate Insights site, managing editorial operations and content strategy, and currently oversees and creates content for My Investing News.

Trey's editorial expertise extends across multiple publishing environments. He served as production editor at Dearborn Financial Publishing and development editor at Kaplan, where he helped shape financial education materials. Earlier in his career, he worked as a writer-producer at SVE. His freelance editing portfolio includes work for prestigious clients such as Sage Publications, Rand McNally, the Institute for Supply Management, the American Library Association, Eggplant Literary Productions, and Spiegel.

Outside of financial journalism, Trey writes fiction and has been an active member of the writing community for years, overseeing a long-running critique group and moderating workshop sessions at regional conventions. He lives with his family in an old house in the Midwest.

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